Caisse de depot et placement du Quebec Invests $210.39 Million in BlackRock $BLK

Key Points

• Caisse de dépôt et placement du Québec purchased 218,804 BlackRock shares worth approximately $210.4 million, giving it a 0.14% stake; institutional investors collectively own 80.69% of the company.
• BlackRock exceeded quarterly expectations with adjusted EPS of $13.91 and revenue of $7.08 billion, while revenue increased 30.6% year over year. The company also declared a quarterly dividend of $5.73, equivalent to a 2.0% annualized yield.
• Analysts maintain a consensus “Buy” rating with an average price target of $1,311.06, although one valuation review says the stock may be near fair value after an approximately 82% three-year gain.

Caisse de depot et placement du Quebec purchased a new stake in BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 218,804 shares of the asset manager's stock, valued at approximately $210,393,000. Caisse de depot et placement du Quebec owned 0.14% of BlackRock as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at $26,000. RMG Wealth Management LLC purchased a new position in BlackRock during the 1st quarter valued at about $25,000. Addison Advisors LLC purchased a new position in BlackRock during the 2nd quarter valued at about $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of BlackRock during the second quarter valued at about $25,000. Finally, Birchbrook Inc. purchased a new stake in shares of BlackRock in the fourth quarter worth about $31,000. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,174.17 on Thursday. 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 firm has a market cap of $181.84 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The company's fifty day simple moving average is $1,075.18 and its two-hundred day simple moving average is $1,045.98.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating analysts' consensus estimates of $12.69 by $1.22. The business had revenue of $7.08 billion during 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%.BlackRock's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $12.05 EPS. As a group, equities analysts expect that BlackRock will post 55.86 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock's dividend payout ratio (DPR) is presently 54.78%.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) has processed more than $5 billion in tax-deferred conversions from directly held Bitcoin. Reducing the minimum conversion size from $25 million to $1 million could make the product accessible to more wealthy investors and institutions, potentially supporting assets under management and fee revenue. However, these transactions transfer existing Bitcoin into the ETF rather than representing equivalent new cash inflows. Bitcoin to $100K? BlackRock’s $5B ETF Shift Pulls More BTC Into Wall Street
• Positive Sentiment: Wall Street analysts remain broadly optimistic about BlackRock’s growth prospects and target price, despite the shares’ strong multiyear advance. What Are Wall Street Analysts' Target Price for BlackRock Stock?
• Neutral Sentiment: BlackRock named Jessica Tan to lead its global product unit, a management change that could influence future product development and distribution but whose financial impact is not yet clear. BlackRock names Jessica Tan to head global product unit
• Neutral Sentiment: The company announced final August cash distributions for the iShares Premium Money Market ETF. The announcement is routine and primarily affects fund investors rather than BlackRock’s corporate earnings. BlackRock Canada Announces Final August Cash Distributions
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have issued materially misleading business information. The announcement does not establish wrongdoing, but it introduces potential legal, reputational and financial risk. BlackRock Investor News: Rosen Law Firm Investigation
• Negative Sentiment: One valuation review says BlackRock now trades near fair value on intrinsic estimates and looks expensive on earnings multiples after an approximately 82% three-year return, limiting near-term upside unless earnings and fee growth accelerate. BlackRock Stock Looks Fully Valued After an 82% Run

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BLK shares. The Goldman Sachs Group restated a "buy" rating and set a $1,389.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Bank of America upped their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Morgan Stanley boosted their price target on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Weiss Ratings cut shares of BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Barclays lifted their price objective on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $1,311.06.

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.

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