E. Ohman J or Asset Management AB Acquires 6,361 Shares of BlackRock $BLK

Key Points

• E. Ohman J or Asset Management AB increased its BlackRock stake by 17.5% in the second quarter, acquiring 6,361 additional shares and bringing its holdings to 42,612 shares valued at approximately $40.97 million. Institutional investors collectively own 80.69% of BlackRock.
• BlackRock reported stronger-than-expected quarterly results, with earnings of $13.91 per share and revenue of $7.08 billion, up 30.6% year over year. The company also declared a quarterly dividend of $5.73 per share, representing an annualized yield of about 2.0%.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $1,311.06, above its stated opening price of $1,128.95.

E. Ohman J or Asset Management AB raised its stake in shares of BlackRock (NYSE:BLK - Free Report) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,612 shares of the asset manager's stock after buying an additional 6,361 shares during the quarter. BlackRock comprises approximately 1.0% of E. Ohman J or Asset Management AB's holdings, making the stock its 22nd largest position. E. Ohman J or Asset Management AB's holdings in BlackRock were worth $40,974,000 as of its most recent SEC filing.

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

BlackRock Stock Performance

NYSE:BLK opened at $1,128.95 on Tuesday. The stock's fifty day moving average is $1,041.14 and its 200 day moving average is $1,041.48. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The firm has a market capitalization of $174.98 billion, a PE ratio of 26.98, a PEG ratio of 1.28 and a beta of 1.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

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 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 during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the firm earned $12.05 earnings per share. BlackRock's quarterly revenue was up 30.6% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Dividend Announcement

The company 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 dividend of $5.73 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. BlackRock's payout ratio is currently 54.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore reissued an "outperform" rating and set a $1,260.00 price target on shares of BlackRock in a research note on Monday. Zacks Research raised BlackRock from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. UBS Group upped their price objective on BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Weiss Ratings upgraded BlackRock from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,258.00 target price on shares of BlackRock in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $1,311.06.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: New Canada ETF combines equities and Bitcoin: BlackRock Canada launched the iShares Equity + Bitcoin ETF Portfolio (IBQT), which allocates approximately 97% to diversified global equities and 3% to Bitcoin through BlackRock’s Canadian iShares Bitcoin ETF. The product could support long-term fee revenue and strengthen BlackRock’s position in the growing digital-asset market. BlackRock launches two Canada ETFs, with one allocating 3% to Bitcoin
• Positive Sentiment: AI infrastructure opportunities expand: BlackRock is reportedly participating in a partnership with Nvidia and other financial firms aimed at mobilizing more than $500 billion for AI infrastructure, including chips, power and data centers. BlackRock also agreed to a roughly $14 billion AI data-center ownership partnership with Meta in El Paso, potentially creating new infrastructure-management and investment opportunities. Nvidia Forms Financial Partnerships to Fuel AI Factory Boom
• Positive Sentiment: Workforce agreement supports infrastructure ambitions: BlackRock, North America’s Building Trades Unions and the AI Infrastructure Partnership signed an agreement focused on staffing data-center and energy projects, supply-chain resilience and domestic economic development. The arrangement may help reduce execution and labor risks for large infrastructure investments. BlackRock Signs Deal With Labor Unions for AI Construction Jobs
• Neutral Sentiment: Bitcoin demand remains supportive but volatile: Bitcoin ETFs recorded approximately $854 million in combined inflows over five days, led by BlackRock’s IBIT. Strong flows could benefit IBIT-related assets and fees, but cryptocurrency prices and fund demand remain sensitive to interest-rate expectations and upcoming economic data. Bitcoin ETFs Draw $854M Over Five Days as Rate-Hike Bets Fade
• Negative Sentiment: Private-credit concerns remain a risk: BlackRock TCP Capital, a managed business development company, is selling a $523 million portfolio of private-credit investments to reduce leverage and strengthen its balance sheet. Although the transaction involves the BDC rather than BlackRock’s corporate balance sheet, it highlights pressure in parts of the private-credit business and could create investor caution. BlackRock Offloads $523 Million in Loans to Rescue Troubled Private Credit Fund

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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