Assenagon Asset Management S.A. Buys 57,143 Shares of BlackRock $BLK

Assenagon Asset Management S.A. lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 48.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 174,033 shares of the asset manager's stock after acquiring an additional 57,143 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of BlackRock worth $167,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. RMG Wealth Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at about $25,000. Evolution Wealth Management Inc. purchased a new stake in BlackRock in the fourth quarter worth approximately $26,000. Birchbrook Inc. bought a new position in BlackRock during the fourth quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA bought a new position in BlackRock during the fourth quarter valued at approximately $32,000. Finally, Basepoint Wealth LLC purchased a new position in shares of BlackRock during the fourth quarter worth approximately $32,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Morgan Stanley increased their target price on shares of BlackRock from $1,383.00 to $1,488.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Zacks Research upgraded shares of BlackRock from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. BNP Paribas Exane boosted their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 23rd. Finally, TD Cowen cut their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating for the company in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of "Buy" and an average target price of $1,304.29.

BlackRock Stock Performance

NYSE:BLK opened at $1,128.98 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The firm has a market cap of $174.98 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The business has a 50 day moving average price of $1,037.16 and a 200-day moving average price of $1,041.54.

BlackRock (NYSE:BLK - Get Free Report) last issued 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. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The firm's revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm earned $12.05 earnings per share. Equities research analysts predict that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Announces Dividend

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 given a $5.73 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. BlackRock's payout ratio is presently 54.78%.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is promoting model portfolios as a way to bring private-market funds to affluent individual investors. Wider distribution could increase fee-generating assets and strengthen BlackRock’s position in alternatives. Wall Street touts outsourced allocation ploy in bid to market private funds to individuals
• Positive Sentiment: BlackRock is expanding blockchain-based products, including tokenized European money-market funds through JPMorgan’s Kinexys platform. The initiative supports long-term growth in digital assets and institutional liquidity products. BlackRock brings tokenized money market funds to Europe via JPMorgan
• Positive Sentiment: BlackRock is among the validators for Circle’s planned Arc blockchain and intends to deploy its BUIDL digital liquidity fund on the network. The relationship could help accelerate adoption of tokenized securities and reinforce BlackRock’s digital-asset leadership. Blueprint for a Banking Fortress: Circle Redraws the Map
• Neutral Sentiment: BlackRock will conduct a one-for-three reverse split of its iShares Ethereum Trust ETF (ETHA). The action raises the per-share price but does not change investors’ proportional ownership or the fund’s underlying value. BlackRock’s Ethereum ETF To Undergo 1-For-3 Reverse Split
• Negative Sentiment: BlackRock TCP Capital Corp. NASDAQ: TCPC, an affiliated business-development company, is transferring approximately $523 million of loans—nearly half of its debt investments—to a Pantheon-backed fund while cutting leverage and reviewing strategic options. The move may reduce risk, but the scale of the restructuring highlights stress in private credit and could weigh on sentiment toward BlackRock’s alternatives platform. BlackRock Offloads $523 Million in Loans to Rescue Troubled Private Credit Fund

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.

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