Arini Capital Management Ltd Invests $4.81 Million in BlackRock $BLK

Arini Capital Management Ltd bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,000 shares of the asset manager's stock, valued at approximately $4,808,000. BlackRock comprises about 0.5% of Arini Capital Management Ltd's holdings, making the stock its 23rd largest position.

Several other institutional investors have also bought and sold shares of the stock. RMG Wealth Management LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $25,000. Addison Advisors LLC bought a new stake in BlackRock during the second quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in BlackRock in the second quarter worth $25,000. Evolution Wealth Management Inc. purchased a new position in BlackRock in the fourth quarter worth $26,000. Finally, Meeder Asset Management Inc. bought a new position in BlackRock in the 2nd quarter valued at $30,000. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group reiterated a "buy" rating and set a $1,389.00 target price on shares of BlackRock in a research note on Thursday, July 16th. UBS Group increased their price target on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Weiss Ratings downgraded shares of BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Barclays boosted their target price on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets raised their price target on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $1,311.06.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) has processed more than $5 billion in tax-deferred conversions from directly held Bitcoin. Reducing the minimum conversion size from $25 million to $1 million could make the product accessible to more wealthy investors and institutions, potentially supporting assets under management and fee revenue. However, these transactions transfer existing Bitcoin into the ETF rather than representing equivalent new cash inflows. Bitcoin to $100K? BlackRock’s $5B ETF Shift Pulls More BTC Into Wall Street
• Positive Sentiment: Wall Street analysts remain broadly optimistic about BlackRock’s growth prospects and target price, despite the shares’ strong multiyear advance. What Are Wall Street Analysts' Target Price for BlackRock Stock?
• Neutral Sentiment: BlackRock named Jessica Tan to lead its global product unit, a management change that could influence future product development and distribution but whose financial impact is not yet clear. BlackRock names Jessica Tan to head global product unit
• Neutral Sentiment: The company announced final August cash distributions for the iShares Premium Money Market ETF. The announcement is routine and primarily affects fund investors rather than BlackRock’s corporate earnings. BlackRock Canada Announces Final August Cash Distributions
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have issued materially misleading business information. The announcement does not establish wrongdoing, but it introduces potential legal, reputational and financial risk. BlackRock Investor News: Rosen Law Firm Investigation
• Negative Sentiment: One valuation review says BlackRock now trades near fair value on intrinsic estimates and looks expensive on earnings multiples after an approximately 82% three-year return, limiting near-term upside unless earnings and fee growth accelerate. BlackRock Stock Looks Fully Valued After an 82% Run

BlackRock Stock Down 0.2%

BLK stock opened at $1,174.17 on Thursday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $181.84 billion, a PE ratio of 28.06, a PEG ratio of 1.30 and a beta of 1.42. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock has a 50-day simple moving average of $1,075.18 and a two-hundred day simple moving average of $1,045.98.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the prior year, the firm posted $12.05 earnings per share. The company's revenue for the quarter was up 30.6% on a year-over-year basis. On average, equities analysts predict that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

BlackRock Company Profile

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.

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.

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