Glenmede Trust Co. NA Has $73.76 Million Stock Position in BlackRock $BLK

Key Points

• Glenmede Trust reduced its BlackRock stake by 1.4% in the first quarter, selling 1,115 shares and retaining 76,696 shares valued at approximately $73.76 million. Institutional investors collectively own 80.69% of BlackRock.
• Analyst sentiment remains positive: BlackRock has a consensus “Buy” rating and an average price target of $1,304.29, while several firms recently raised their targets.
• BlackRock reported strong quarterly results, with EPS of $13.91 and revenue of $7.08 billion, up 30.6% year over year. The company also declared a quarterly dividend of $5.73 per share, equivalent to a 2.1% annualized yield.

Glenmede Trust Co. NA lowered its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 76,696 shares of the asset manager's stock after selling 1,115 shares during the period. Glenmede Trust Co. NA's holdings in BlackRock were worth $73,759,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BLK. Vanguard Group Inc. increased its holdings in BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager's stock valued at $15,051,846,000 after purchasing an additional 221,123 shares during the period. State Street Corp lifted its holdings in BlackRock by 0.5% during the 4th quarter. State Street Corp now owns 6,264,545 shares of the asset manager's stock worth $6,705,193,000 after buying an additional 33,752 shares during the period. Corient Private Wealth LLC lifted its holdings in BlackRock by 5,190.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock worth $5,876,618,000 after buying an additional 5,386,640 shares during the period. Temasek Holdings Private Ltd grew its position in shares of BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager's stock valued at $5,126,387,000 after buying an additional 237,667 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of BlackRock by 0.7% in the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager's stock valued at $5,032,603,000 after buying an additional 35,069 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,275.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. UBS Group upped their target price on BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a report on Thursday, July 16th. BNP Paribas Exane increased their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded shares of BlackRock from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of BlackRock from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of "Buy" and a consensus target price of $1,304.29.

BlackRock Stock Performance

BLK stock opened at $1,093.47 on Friday. The stock has a 50-day moving average price of $1,032.03 and a 200-day moving average price of $1,041.73. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The firm has a market cap of $169.48 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the business earned $12.05 EPS. The firm's revenue was up 30.6% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.1%. BlackRock's payout ratio is 54.78%.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Demand for BlackRock’s crypto products remains strong. Its iShares Bitcoin Trust (IBIT) attracted approximately $183 million of new inflows on July 30, contributing to $233 million in total spot Bitcoin ETF inflows. Continued ETF demand could support fee revenue and assets under management. Spot Bitcoin ETFs Attract $233M in Fresh Inflows as BlackRock’s IBIT Leads Demand
• Positive Sentiment: Stripe’s blockchain, Tempo, integrated BlackRock’s BUIDL tokenized Treasury fund, expanding institutional access to the product and reinforcing BlackRock’s leadership in tokenized assets. Tempo Brings BlackRock’s BUIDL to Businesses in New Treasury Partnership
• Positive Sentiment: BlackRock was identified alongside Fidelity and Goldman Sachs as a major TradFi supporter of the CLARITY Act, potentially improving regulatory clarity for digital assets if the legislation advances. Could Wisconsin strip your voting rights for using prediction markets?
• Neutral Sentiment: Analysts highlighted three BlackRock mutual funds with top Zacks rankings, but the article is promotional and does not represent new company fundamentals or a material change in investor demand. 3 BlackRock Mutual Funds to Grab Now for Superior Returns
• Negative Sentiment: Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging misleading business information. The announcement does not establish wrongdoing, but it creates headline and litigation risk. Rosen Investor Investigation

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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