BlackRock $BLK Shares Acquired by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its BlackRock holdings by 10.8% in the second quarter, adding 2,273 shares for a total of 23,402 shares valued at approximately $22.5 million.
• Institutional investors own 80.69% of BlackRock’s outstanding stock, while several other wealth managers initiated new positions during the recent quarters.
• BlackRock reported strong quarterly results, with EPS of $13.91 and revenue of $7.08 billion, both above analyst expectations; analysts maintain a “Moderate Buy” consensus with an average price target of $1,311.06.

NEOS Investment Management LLC boosted its holdings in BlackRock (NYSE:BLK - Free Report) by 10.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,402 shares of the asset manager's stock after purchasing an additional 2,273 shares during the quarter. NEOS Investment Management LLC's holdings in BlackRock were worth $22,502,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Evolution Wealth Management Inc. acquired a new stake in BlackRock during the 4th quarter worth $26,000. RMG Wealth Management LLC purchased a new position in shares of BlackRock during the first quarter worth about $25,000. Addison Advisors LLC acquired a new stake in shares of BlackRock during the second quarter worth about $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of BlackRock in the 2nd quarter valued at about $25,000. Finally, Birchbrook Inc. purchased a new stake in shares of BlackRock in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $454 million in a single day, accounting for most of the $731 million flowing into U.S. spot Bitcoin ETFs. Continued institutional demand could increase BlackRock’s digital-asset assets under management and fee revenue. Bitcoin Spot ETFs See Huge Inflows as BlackRock Takes Lead
• Positive Sentiment: An updated valuation model raised BlackRock’s estimated fair value to $1,320.81 per share from $1,314.44, reinforcing the view that the company’s earnings beat, inflows and margins support additional upside. BlackRock Stock Gets Fair Value Bump
• Positive Sentiment: BlackRock is seeking to allocate roughly 5% to 20% of target-date funds to private assets, potentially opening a large distribution channel for private equity and private credit products. BlackRock Wants Private Assets in Target-Date Funds
• Positive Sentiment: BlackRock’s support for corporate reincorporation in Texas and its broader tokenization expansion through Securitize could strengthen its positioning in business-friendly and digital-finance markets. BlackRock Casts a Vote of Confidence in Texas

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research reports. Bank of America raised their price target on BlackRock from $1,298.00 to $1,320.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Barclays raised their target price on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Morgan Stanley lifted 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. JPMorgan Chase & Co. upgraded shares of BlackRock from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. Finally, 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 report on Tuesday, June 23rd. One equities 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,311.06.

BlackRock Price Performance

BlackRock stock opened at $1,121.85 on Friday. 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 business has a 50 day simple moving average of $1,092.75 and a 200-day simple moving average of $1,049.39. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a market capitalization of $173.74 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data 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. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.73 billion. During the same period in the previous year, the company posted $12.05 EPS. BlackRock's revenue was up 30.6% compared to the same quarter last year. Equities analysts predict that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be paid 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 is Tuesday, September 8th. BlackRock's payout ratio is 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.

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