Guardian Partners Inc. Sells 1,524 Shares of BlackRock $BLK

Key Points

• Guardian Partners cut its BlackRock stake by 72.1% in the first quarter, selling 1,524 shares and retaining 591 shares valued at approximately $569,000. Institutional investors collectively own 80.69% of BlackRock.
• BlackRock reported quarterly earnings of $13.91 per share and revenue of $7.08 billion, beating analyst estimates; revenue rose 30.6% year over year. The company also declared a quarterly dividend of $5.73 per share, equivalent to a 2.1% annualized yield.
• Analysts remain broadly bullish, with an average “Buy” rating and a $1,304.29 price target, while recent growth initiatives include a roughly $14 billion AI data-center venture with Meta and continued expansion in ETFs, infrastructure and crypto-related products.

Guardian Partners Inc. trimmed its stake in BlackRock (NYSE:BLK - Free Report) by 72.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 591 shares of the asset manager's stock after selling 1,524 shares during the period. Guardian Partners Inc.'s holdings in BlackRock were worth $569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLK. Amundi increased its position in shares of BlackRock by 15.3% during the 1st quarter. Amundi now owns 641,778 shares of the asset manager's stock valued at $617,204,000 after purchasing an additional 84,954 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in BlackRock by 53.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,326 shares of the asset manager's stock worth $1,275,000 after buying an additional 463 shares during the last quarter. Resources Management Corp CT ADV lifted its position in BlackRock by 0.3% in the first quarter. Resources Management Corp CT ADV now owns 13,865 shares of the asset manager's stock worth $13,334,000 after buying an additional 46 shares during the last quarter. Empowered Funds LLC boosted its stake in BlackRock by 11.8% during the first quarter. Empowered Funds LLC now owns 10,825 shares of the asset manager's stock worth $10,411,000 after buying an additional 1,146 shares during the period. Finally, Evelyn Partners Investment Management LLP boosted its stake in BlackRock by 6.2% during the first quarter. Evelyn Partners Investment Management LLP now owns 1,007 shares of the asset manager's stock worth $968,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Trading Up 3.5%

NYSE BLK opened at $1,099.21 on Wednesday. The company's 50-day moving average price is $1,030.24 and its 200-day moving average price is $1,041.31. 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 stock has a market cap of $170.37 billion, a PE ratio of 26.27, a PEG ratio of 1.20 and a beta of 1.43. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

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 for the quarter, beating analysts' consensus estimates of $12.69 by $1.22. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The firm's revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter last year, the business posted $12.05 EPS. Equities research analysts forecast that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Announces Dividend

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 issued a $5.73 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.1%. BlackRock's payout ratio is presently 54.78%.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Major AI infrastructure partnership: BlackRock and Meta Platforms formed an approximately $14 billion venture to develop and operate a one-gigawatt data center campus in El Paso, Texas. BlackRock-managed funds will own 80%, while Meta retains 20% and will operate the facility, which is expected to come online in 2028. The deal highlights BlackRock’s opportunity to earn investment-management and infrastructure-related fees from the multiyear AI buildout. Meta, BlackRock partner on $14 billion El Paso data center
• Positive Sentiment: Strong financing demand: BlackRock reportedly arranged roughly $12.3 billion in senior secured bonds for the project, with the debt rallying before pricing. The successful financing supports the view that BlackRock can scale its Global Infrastructure Partners and HPS platforms while channeling institutional capital into digital infrastructure. BlackRock Dodges AI Bond Flop as $12.3 Billion Debt Deal Rallies
• Positive Sentiment: ETF and crypto-related momentum: BlackRock’s systematic-alternatives ETF reportedly attracted significant inflows, while the firm’s crypto portfolio gained nearly $5 billion in July. These developments reinforce the company’s ability to capture demand across newer investment products, although crypto-related gains may be volatile. BlackRock Stuffed a Hedge Fund Inside an ETF
• Neutral Sentiment: BlackRock’s latest quarterly results showed substantial earnings and revenue beats, with revenue up 30.6% year over year, but analysts noted that the stock may already reflect much of the company’s record inflow and earnings strength. BlackRock Stock Could Be Fully Priced Following Record Inflows
• Negative Sentiment: U.S. spot Bitcoin ETFs experienced renewed outflows late last week, led by BlackRock’s iShares Bitcoin Trust. Continued weakness could reduce fee revenue and weigh on sentiment toward the firm’s crypto franchise. Bitcoin ETFs End Inflow Streak as Fed Rate Concerns Mount

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLK. Weiss Ratings raised shares of BlackRock from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Barclays upped their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. UBS Group raised their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods boosted their target price on BlackRock from $1,275.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Finally, BNP Paribas Exane upped their target price on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, BlackRock currently has an average rating of "Buy" and an average price target of $1,304.29.

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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