Bank OZK purchased a new stake in BlackRock (NYSE:BLK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,201 shares of the asset manager's stock, valued at approximately $1,155,000.
Several other hedge funds and other institutional investors have also made changes to their positions in BLK. McIlrath & Eck LLC boosted its stake in shares of BlackRock by 5.0% during the 4th quarter. McIlrath & Eck LLC now owns 212 shares of the asset manager's stock worth $227,000 after acquiring an additional 10 shares during the period. Manske Wealth Management raised its holdings in BlackRock by 3.0% in the 4th quarter. Manske Wealth Management now owns 345 shares of the asset manager's stock valued at $369,000 after acquiring an additional 10 shares in the last quarter. Gibson Capital LLC grew its stake in BlackRock by 3.4% during the fourth quarter. Gibson Capital LLC now owns 308 shares of the asset manager's stock worth $330,000 after buying an additional 10 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in BlackRock by 4.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager's stock valued at $246,000 after acquiring an additional 10 shares during the last quarter. Finally, Great Diamond Partners LLC increased its stake in shares of BlackRock by 0.4% in the 4th quarter. Great Diamond Partners LLC now owns 2,791 shares of the asset manager's stock valued at $2,987,000 after purchasing an additional 10 shares during the last quarter. 80.69% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BLK. Morgan Stanley raised their target price on shares of BlackRock from $1,383.00 to $1,488.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Barclays upped their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Bank of America increased their price target on BlackRock from $1,298.00 to $1,320.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $1,258.00 target price on shares of BlackRock in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,311.06.
View Our Latest Analysis on BLK
Trending Headlines about BlackRock
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 Trading Down 0.5%
Shares of BLK stock opened at $1,167.69 on Friday. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. 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 company has a 50 day moving average of $1,077.50 and a 200-day moving average of $1,046.77. The firm has a market cap of $180.84 billion, a P/E ratio of 27.91, a PEG ratio of 1.29 and a beta of 1.42.
BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.69 by $1.22. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.05 EPS. Sell-side analysts anticipate that BlackRock will post 55.86 earnings per share for the current year.
BlackRock Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders 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 annualized dividend and a dividend yield of 2.0%. BlackRock's payout ratio is 54.78%.
About BlackRock
(
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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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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