Coastal Bridge Advisors LLC Buys Shares of 951 BlackRock $BLK

Coastal Bridge Advisors LLC bought a new position in shares of BlackRock (NYSE:BLK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 951 shares of the asset manager's stock, valued at approximately $914,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after acquiring an additional 296 shares in the last quarter. Bison Wealth LLC raised its holdings in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after buying an additional 17 shares during the period. Schnieders Capital Management LLC. bought a new position in BlackRock in the second quarter valued at approximately $259,000. Nebula Research & Development LLC bought a new position in BlackRock in the second quarter valued at approximately $548,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of BlackRock in the second quarter valued at approximately $98,000. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.5%

BlackRock stock opened at $1,167.69 on Friday. 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. The company has a fifty day simple moving average of $1,077.50 and a 200 day simple moving average of $1,046.77. The company has a market cap of $180.84 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 24.09% and a return on equity of 14.90%. The company's quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the business posted $12.05 EPS. Research analysts anticipate that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given a dividend of $5.73 per share. The ex-dividend date of this dividend 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%.

Key Stories Impacting 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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BLK shares. JPMorgan Chase & Co. upgraded shares of BlackRock from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Keefe, Bruyette & Woods cut BlackRock from a "moderate buy" rating to a "hold" rating in a report on Friday, August 7th. Bank of America lifted their price target on BlackRock from $1,298.00 to $1,320.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. BMO Capital Markets upped their price objective 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. Finally, Evercore reiterated an "outperform" rating and set a $1,260.00 price objective on shares of BlackRock in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,311.06.

About BlackRock

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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