Citizens Financial Group Inc. RI Makes New $5.06 Million Investment in BlackRock $BLK

Key Points

• Citizens Financial Group acquired 5,265 BlackRock shares during the second quarter, valued at approximately $5.06 million. Institutional investors collectively own 80.69% of BlackRock.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $1,311.06, although Keefe, Bruyette & Woods downgraded the stock to “Hold.”
• BlackRock reported strong quarterly results, including $13.91 in EPS and $7.08 billion in revenue, while announcing a $5.73 quarterly dividend, equivalent to a 2.0% annual yield.

Citizens Financial Group Inc. RI acquired a new stake in BlackRock (NYSE:BLK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,265 shares of the asset manager's stock, valued at approximately $5,062,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. Evolution Wealth Management Inc. bought a new stake in BlackRock in the fourth quarter valued at about $26,000. RMG Wealth Management LLC bought a new position in BlackRock during the first quarter worth about $25,000. Birchbrook Inc. bought a new position in BlackRock during the fourth quarter worth about $31,000. Basepoint Wealth LLC acquired a new stake in BlackRock during the fourth quarter valued at approximately $32,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in BlackRock during the fourth quarter valued at approximately $32,000. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BNP Paribas Exane upped their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. BMO Capital Markets raised their target price on BlackRock from $1,250.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods lowered BlackRock from a "moderate buy" rating to a "hold" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. upgraded BlackRock from a "neutral" rating to an "overweight" rating and upped their price target for the company from $1,165.00 to $1,364.00 in a research report on Thursday, July 16th. Finally, Morgan Stanley lifted their price objective on BlackRock from $1,383.00 to $1,488.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of "Buy" and an average price target of $1,311.06.

BlackRock Stock Performance

NYSE BLK opened at $1,148.91 on Tuesday. The firm has a market cap of $177.93 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.32 and a beta of 1.42. The company has a 50 day moving average of $1,056.94 and a 200-day moving average of $1,042.81. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping the consensus estimate of $12.69 by $1.22. The business had revenue of $7.08 billion for 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%.BlackRock's revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the business earned $12.05 EPS. On average, equities analysts forecast that BlackRock will post 55.63 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders 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 payout ratio is currently 54.78%.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Technical momentum remains favorable. BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross,” which technical analysts view as a bullish signal. After Golden Cross, BlackRock Technical Outlook Is Bright
• Positive Sentiment: Income-investor appeal remains intact. BlackRock is highlighted among dividend-paying financial stocks with favorable analyst ratings and potential price-target upside, which could support demand from yield-focused investors. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Positive Sentiment: Bitcoin ETF demand is a modest supportive factor. Tudor Investment reportedly increased its position in BlackRock’s spot Bitcoin ETF to $22.9 million, reinforcing institutional interest in the product and potentially supporting fee-related asset growth. Tudor Investment Boosts Bitcoin ETF Holdings
• Neutral Sentiment: Valuation comparisons offer no decisive catalyst. A Zacks comparison of BlackRock and Affiliated Managers Group examines which asset manager provides better value, but the article does not establish a clear near-term reason for investors to favor BLK. AMG vs. BLK: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Insurance and financing risks are the main overhang. A roughly $14 billion Texas data-center campus owned by Meta and BlackRock may be significantly underinsured against catastrophic events because insurers are reluctant to provide full coverage. The potential for large uncovered losses could increase lender and investment risk concerns, likely contributing to pressure on BLK. Meta and BlackRock’s Data Centre Exposes Lenders to Insurance Gap

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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