12,474 Shares in BlackRock $BLK Purchased by First National Bank of Omaha

Key Points

• First National Bank of Omaha purchased 12,474 BlackRock shares in the second quarter, valued at approximately $12.0 million. Institutional investors collectively own 80.69% of BlackRock’s outstanding stock.
• BlackRock reported quarterly earnings of $13.91 per share, exceeding estimates by $1.22, while revenue rose 30.6% year over year to $7.08 billion. Analysts expect full-year earnings of $55.63 per share.
• BlackRock declared a quarterly dividend of $5.73, equivalent to an annualized $22.92 and a 2.0% yield. Wall Street maintains an overall “Buy” rating, with an average price target of $1,311.06.

First National Bank of Omaha purchased a new position in shares of BlackRock (NYSE:BLK - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,474 shares of the asset manager's stock, valued at approximately $11,966,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Rather & Kittrell Inc. raised its holdings in BlackRock by 2.1% in the fourth quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager's stock valued at $461,000 after buying an additional 9 shares during the period. Oakworth Capital Inc. increased its holdings in BlackRock by 1.2% in the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager's stock valued at $808,000 after purchasing an additional 9 shares in the last quarter. McIlrath & Eck LLC raised its position in BlackRock by 5.0% in the fourth quarter. McIlrath & Eck LLC now owns 212 shares of the asset manager's stock valued at $227,000 after purchasing an additional 10 shares during the period. Manske Wealth Management raised its position in BlackRock by 3.0% in the fourth quarter. Manske Wealth Management now owns 345 shares of the asset manager's stock valued at $369,000 after purchasing an additional 10 shares during the period. Finally, Gibson Capital LLC lifted its stake in shares of BlackRock by 3.4% during the fourth quarter. Gibson Capital LLC now owns 308 shares of the asset manager's stock worth $330,000 after purchasing an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BLK opened at $1,155.78 on Wednesday. The company has a market capitalization of $179.00 billion, a P/E ratio of 27.62, a PEG ratio of 1.32 and a beta of 1.42. The company has a 50-day moving average of $1,059.83 and a 200-day moving average of $1,043.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping the consensus estimate of $12.69 by $1.22. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the company posted $12.05 earnings per share. Equities analysts expect that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be given a $5.73 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock's dividend payout ratio (DPR) is presently 54.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BLK shares. Keefe, Bruyette & Woods lowered shares of BlackRock from a "moderate buy" rating to a "hold" rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised BlackRock from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $1,165.00 to $1,364.00 in a research report on Thursday, July 16th. UBS Group boosted their price target on BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Zacks Research raised BlackRock from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. Finally, Evercore restated an "outperform" rating and set a $1,260.00 price objective on shares of BlackRock in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $1,311.06.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin's Investment Case Hasn't Changed, BlackRock Says
• Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
• Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
• Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
• Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source