Dimensional Fund Advisors LP boosted its position in shares of BlackRock (NYSE:BLK - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 451,432 shares of the asset manager's stock after buying an additional 6,717 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.29% of BlackRock worth $434,053,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in shares of BlackRock during the 4th quarter valued at about $26,000. Birchbrook Inc. acquired a new position in BlackRock in the 4th quarter worth about $31,000. LFA Lugano Financial Advisors SA purchased a new position in BlackRock during the fourth quarter worth approximately $32,000. Basepoint Wealth LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $32,000. Finally, Swiss RE Ltd. purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.69% of the company's stock.
BlackRock Stock Performance
NYSE BLK opened at $1,053.78 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The stock's fifty day moving average is $1,033.20 and its two-hundred day moving average is $1,042.61. The firm has a market capitalization of $163.32 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94.
BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the company earned $12.05 EPS. The company's revenue for the quarter was up 30.6% on a year-over-year basis. On average, research analysts anticipate that BlackRock will post 55.24 earnings per share for the current year.
BlackRock Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were issued a $5.73 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. BlackRock's payout ratio is presently 54.78%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Evercore reaffirmed an "outperform" rating and set a $1,145.00 target price on shares of BlackRock in a research note on Friday, July 10th. BMO Capital Markets boosted their price target on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday. Weiss Ratings raised shares of BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. BNP Paribas Exane upped 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. Finally, UBS Group increased their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,304.29.
Check Out Our Latest Report on BlackRock
Insider Activity at BlackRock
In related news, CEO Laurence Fink sold 33,900 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the sale, the chief executive officer directly owned 230,516 shares of the company's stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the completion of the transaction, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by corporate insiders.
BlackRock News Summary
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock’s crypto ETFs saw improving inflows, including fresh demand for IBIT and ETHA, which may support fee growth and reinforce BlackRock’s position as a leading crypto ETF provider.
- Positive Sentiment: BlackRock is leading a $12 billion financing for new Meta data centers in Texas through its infrastructure and private-credit arms, highlighting continued momentum in higher-fee alternative assets.
- Positive Sentiment: The company recently posted record assets under management and strong quarterly results, which continue to support the long-term earnings outlook for BLK.
BlackRock Company Profile
(
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.
Further Reading
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.
Before you consider BlackRock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock wasn't on the list.
While BlackRock currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
