Ally Financial Inc. purchased a new position in BlackRock (NYSE:BLK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,000 shares of the asset manager's stock, valued at approximately $4,808,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. RMG Wealth Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at about $25,000. Addison Advisors LLC bought a new stake in shares of BlackRock in the 2nd quarter worth approximately $25,000. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of BlackRock in the 2nd quarter valued at $30,000. Finally, Birchbrook Inc. bought a new position in shares of BlackRock during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 80.69% of the company's stock.
BlackRock Price Performance
BLK opened at $1,157.28 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a market capitalization of $179.23 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The stock's 50 day moving average price is $1,067.74 and its 200-day moving average price is $1,043.70. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94.
BlackRock (NYSE:BLK - Get Free Report) last posted its 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. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.73 billion. During the same period last year, the company posted $12.05 EPS. The company's quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts predict that BlackRock will post 55.86 EPS for the current year.
BlackRock Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a $5.73 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock's dividend payout ratio is 54.78%.
BlackRock News Roundup
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: Strong Bitcoin ETF demand could support fee revenue. BlackRock’s iShares Bitcoin Trust led recent U.S. spot Bitcoin ETF inflows, including $284.7 million in one session and $588.5 million over three days. Continued cryptocurrency demand could increase assets under management and fee income. Bitcoin ETF Inflows Hit $517M While BTC Tests Key Resistance
- Positive Sentiment: Dividend appeal is drawing investor attention. A recent analysis describes BlackRock as an attractive dividend stock, reinforcing the company’s appeal to income-oriented investors after its latest quarter exceeded expectations on both earnings and revenue. Why BlackRock Is a Great Dividend Stock Right Now
- Positive Sentiment: BlackRock continues deploying capital and expanding alternative-asset exposure. The firm and Oaktree seized debt-laden movie servicer MBS, highlighting potential opportunities in distressed and private credit markets, though such investments also carry execution risk. BlackRock, Oaktree Seize Debt-Laden Movie Servicer MBS
- Neutral Sentiment: Large Qiagen stake creates potential strategic upside but adds concentration risk. Dutch regulatory filings show BlackRock owns roughly 11.5% of Qiagen’s capital and more than 12% of its voting rights. The holding demonstrates significant investment activity, but the filings do not indicate a change in BlackRock’s operating outlook. BlackRock Reveals Stake in Qiagen
- Negative Sentiment: A law firm’s investigation remains an overhang. Rosen Law Firm is seeking investors who may have suffered losses in BlackRock mutual funds amid allegations that business information was materially misleading. This is only an investigation announcement, not a finding of wrongdoing, but it could create reputational and legal risk. BlackRock Investor News
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Bank of America upped their price target on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Weiss Ratings downgraded BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods lowered BlackRock from a "moderate buy" rating to a "hold" rating in a research note on Friday, August 7th. UBS Group raised their price target on BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $1,258.00 price target on shares of BlackRock in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $1,311.06.
Check Out Our Latest Stock Analysis on BLK
BlackRock Company Profile
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Free Report)
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.
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