Bank of America Corp DE Invests $4.41 Billion in BlackRock $BLK

Bank of America Corp DE acquired a new stake in BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,585,356 shares of the asset manager's stock, valued at approximately $4,409,095,000. Bank of America Corp DE owned 2.96% of BlackRock as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of BLK. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock during the 4th quarter worth about $26,000. RMG Wealth Management LLC bought a new stake in BlackRock during the first quarter worth approximately $25,000. Addison Advisors LLC acquired a new position in BlackRock during the second quarter valued at approximately $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of BlackRock in the second quarter worth $25,000. Finally, Basepoint Wealth LLC bought a new stake in shares of BlackRock during the 4th quarter worth $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Anthropic launched Claude for financial advisors with integrations involving BlackRock and Charles Schwab. The partnership could strengthen BlackRock’s technology positioning and make its investment, portfolio-management, or advisory capabilities more accessible within advisor workflows. Anthropic Targets Financial Advisors With New Claude Tool
• Positive Sentiment: BlackRock’s ETHA Ethereum ETF was identified as a leading contributor to recent Ethereum ETF inflows, supporting the potential for continued fee revenue and asset growth in its digital-assets business if cryptocurrency demand remains strong. Ethereum Price Analyst Says $3,000 Is Possible This Week
• Positive Sentiment: Wanguo Gold disclosed subscriptions to BlackRock multi-strategy funds, providing a modest indication of institutional demand for BlackRock’s alternative-investment products. Wanguo Gold Deploys Cash Into BlackRock Multi-Strategy Funds
• Neutral Sentiment: BlackRock’s reported support for the proposed Clarity Act could improve regulatory visibility for digital assets, although the legislation’s investment and revenue impact remains uncertain. Senate GOP Unveils Final Clarity Act Text
• Neutral Sentiment: Articles highlighting BlackRock’s dividend profile and its iShares ETFs are largely investor-education pieces rather than new financial disclosures. They reinforce the company’s appeal to income and index-investing customers but provide little immediate trading information. Are You Looking for a High-Growth Dividend Stock?
• Negative Sentiment: A market recap reported that BLK declined more than the overall market. The report offered no new fundamental problem, suggesting the move may reflect valuation, profit-taking, or broader market sensitivity; BlackRock’s elevated beta can amplify market swings. BlackRock Declines More Than Market

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BLK. Barclays increased their target price on BlackRock from $1,340.00 to $1,450.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. BNP Paribas Exane raised their price objective 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. Keefe, Bruyette & Woods lowered shares of BlackRock from a "moderate buy" rating to a "hold" rating in a research report on Friday, August 7th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Finally, UBS Group upped their target price on BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,311.06.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,065.36 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a 50 day simple moving average of $1,104.91 and a 200 day simple moving average of $1,049.26. 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 $164.99 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.19 and a beta of 1.41.

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

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 8th. BlackRock's dividend payout ratio is currently 54.78%.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.

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