Elevation Point Wealth Partners LLC Invests $6.93 Million in BlackRock $BLK

Key Points

• Elevation Point Wealth Partners initiated a $6.93 million position in BlackRock during the second quarter, while institutional investors collectively own 80.69% of the company.
• BlackRock reported strong quarterly results, with EPS of $13.91 and revenue of $7.08 billion, up 30.6% year over year and above analyst expectations.
• Analysts remain broadly bullish, assigning the stock an average “Buy” rating and a $1,311.06 price target; BlackRock also declared a quarterly dividend of $5.73 per share, yielding about 2% annually.

Elevation Point Wealth Partners LLC purchased a new position in shares of BlackRock (NYSE:BLK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,203 shares of the asset manager's stock, valued at approximately $6,926,000.

Other large investors also recently bought and sold shares of the company. RMG Wealth Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $25,000. Addison Advisors LLC acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $25,000. Evolution Wealth Management Inc. acquired a new position in shares of BlackRock during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of BlackRock in the second quarter valued at approximately $30,000. Finally, Birchbrook Inc. purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 1.5%

BLK stock opened at $1,157.28 on Friday. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The firm has a market cap of $179.23 billion, a PE ratio of 27.66, a PEG ratio of 1.30 and a beta of 1.42. The firm's 50 day moving average price is $1,067.74 and its 200-day moving average price is $1,044.23. 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 earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.73 billion. During the same quarter last year, the firm earned $12.05 earnings per share. The firm's quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock will post 55.86 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock's payout ratio is 54.78%.

Analyst Ratings Changes

A number of equities analysts recently commented on BLK shares. Weiss Ratings downgraded BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upgraded BlackRock from a "neutral" rating to an "overweight" rating and upped their target price for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Barclays raised their target price on BlackRock from $1,340.00 to $1,450.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. UBS Group lifted their price target on BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $1,311.06.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Bitcoin ETF demand could support fee revenue. BlackRock’s iShares Bitcoin Trust led recent U.S. spot Bitcoin ETF inflows, including $284.7 million in one session and $588.5 million over three days. Continued cryptocurrency demand could increase assets under management and fee income. Bitcoin ETF Inflows Hit $517M While BTC Tests Key Resistance
• Positive Sentiment: Dividend appeal is drawing investor attention. A recent analysis describes BlackRock as an attractive dividend stock, reinforcing the company’s appeal to income-oriented investors after its latest quarter exceeded expectations on both earnings and revenue. Why BlackRock Is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock continues deploying capital and expanding alternative-asset exposure. The firm and Oaktree seized debt-laden movie servicer MBS, highlighting potential opportunities in distressed and private credit markets, though such investments also carry execution risk. BlackRock, Oaktree Seize Debt-Laden Movie Servicer MBS
• Neutral Sentiment: Large Qiagen stake creates potential strategic upside but adds concentration risk. Dutch regulatory filings show BlackRock owns roughly 11.5% of Qiagen’s capital and more than 12% of its voting rights. The holding demonstrates significant investment activity, but the filings do not indicate a change in BlackRock’s operating outlook. BlackRock Reveals Stake in Qiagen
• Negative Sentiment: A law firm’s investigation remains an overhang. Rosen Law Firm is seeking investors who may have suffered losses in BlackRock mutual funds amid allegations that business information was materially misleading. This is only an investigation announcement, not a finding of wrongdoing, but it could create reputational and legal risk. BlackRock Investor News

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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