Bamco Inc. NY Buys New Holdings in BlackRock $BLK

Bamco Inc. NY acquired a new stake in BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,352 shares of the asset manager's stock, valued at approximately $1,300,000.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Evolution Wealth Management Inc. acquired a new position in BlackRock in the 4th quarter valued at $26,000. RMG Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at approximately $25,000. Addison Advisors LLC bought a new position in BlackRock in the second quarter valued at approximately $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in BlackRock during the second quarter valued at approximately $25,000. Finally, Birchbrook Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at $31,000. Institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on BLK. BNP Paribas Exane increased their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Barclays boosted their price target on BlackRock from $1,340.00 to $1,450.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. The Goldman Sachs Group restated a "buy" rating and issued a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Keefe, Bruyette & Woods cut shares of BlackRock from a "moderate buy" rating to a "hold" rating in a research note on Friday, August 7th. Finally, Evercore reaffirmed an "outperform" rating and set a $1,260.00 target price on shares of BlackRock in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,311.06.

BlackRock Stock Down 0.5%

BLK stock opened at $1,167.69 on Friday. The firm has a market capitalization of $180.84 billion, a PE ratio of 27.91, a P/E/G ratio of 1.29 and a beta of 1.42. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock's 50 day moving average is $1,077.50 and its 200-day moving average is $1,046.77.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping analysts' consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the previous year, the business earned $12.05 EPS. The company's revenue was up 30.6% compared to the same quarter last year. Sell-side analysts expect that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Announces Dividend

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

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s newer income-focused ETF is reportedly up 19% this year, compared with 10% for JPMorgan’s JEPQ, while charging the same fee. Strong relative performance could support additional iShares inflows and fee revenue. BlackRock ETF outperformance article
• Positive Sentiment: BlackRock continues to highlight Bitcoin’s role as “digital gold” and a hedge against rising U.S. debt and deficits. Management also sees continued strength in Bitcoin, supporting the long-term case for cryptocurrency-related assets under management. BlackRock Bitcoin hedge case article
• Positive Sentiment: Adroit Trading Technologies is integrating its cross-asset execution tools with BlackRock’s Aladdin platform. The partnership may improve Aladdin’s functionality, client retention and potential technology-related revenue. Aladdin integration article
• Positive Sentiment: BlackRock’s crypto portfolio reportedly gained more than $15 billion during August as Bitcoin and Ethereum rallied. The firm is also participating in an Nvidia-led effort tied to AI infrastructure, broadening potential future growth avenues beyond traditional asset management. BlackRock crypto and AI strategy article

BlackRock 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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