Emerald Investment Advisers LLC bought a new position in shares of BlackRock (NYSE:BLK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,413 shares of the asset manager's stock, valued at approximately $1,359,000.
A number of other hedge funds have also modified their holdings of the business. RMG Wealth Management LLC purchased a new stake in BlackRock during the 1st quarter valued at about $25,000. Addison Advisors LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $25,000. Evolution Wealth Management Inc. purchased a new position in BlackRock in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $30,000. Finally, Birchbrook Inc. acquired a new position in shares of BlackRock during the 4th quarter worth approximately $31,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
BLK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,258.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Evercore reissued an "outperform" rating and set a $1,260.00 price objective on shares of BlackRock in a research note on Monday, August 10th. Zacks Research upgraded BlackRock from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. Weiss Ratings cut BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $1,311.06.
Read Our Latest Stock Analysis on BLK
BlackRock Stock Performance
BlackRock stock opened at $1,157.28 on Friday. The firm has a 50 day simple moving average of $1,067.74 and a 200-day simple moving average of $1,044.23. The stock has a market cap of $179.23 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. 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 released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating 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 firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the previous year, the company earned $12.05 EPS. The business's revenue for the quarter was up 30.6% compared to the same quarter last year. On average, analysts expect that BlackRock will post 55.86 EPS for the current year.
BlackRock Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders 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 annualized dividend and a yield of 2.0%. BlackRock's dividend payout ratio (DPR) is 54.78%.
Key BlackRock News
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
About BlackRock
(
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.
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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.
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