Jefferies Financial Group Inc. Makes New $32.61 Million Investment in BlackRock $BLK

Key Points

• Jefferies Financial Group purchased 33,912 BlackRock shares worth approximately $32.61 million during the second quarter. Institutional investors collectively own 80.69% of BlackRock’s stock.
• BlackRock reported quarterly earnings of $13.91 per share and revenue of $7.08 billion, exceeding analyst estimates; revenue increased 30.6% year over year.
• BlackRock declared a quarterly dividend of $5.73 per share, equivalent to an annualized $22.92 dividend and a 2.0% yield. Analysts maintain a consensus “Moderate Buy” rating with a $1,311.06 price target.

Jefferies Financial Group Inc. purchased a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 33,912 shares of the asset manager's stock, valued at approximately $32,609,000.

Several other large investors also recently modified their holdings of BLK. BlackRock Inc. purchased a new position in BlackRock in the second quarter worth about $9,747,857,000. Corient Private Wealth LLC lifted its stake in shares of BlackRock by 5,190.3% in 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 purchasing an additional 5,386,640 shares during the period. Bank of America Corp DE purchased a new position in shares of BlackRock in the second quarter worth approximately $4,409,095,000. Norges Bank bought a new stake in BlackRock during the fourth quarter valued at approximately $2,742,680,000. Finally, Santa Clara Valley Transportation Authority purchased a new stake in BlackRock during the second quarter valued at approximately $129,138,253,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.5%

NYSE BLK opened at $1,167.69 on Friday. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock's 50 day moving average is $1,077.50 and its 200 day moving average is $1,046.77. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The stock has a market cap of $180.84 billion, a PE ratio of 27.91, a P/E/G ratio of 1.29 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping analysts' consensus estimates of $12.69 by $1.22. The firm 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 14.90%. BlackRock's revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $12.05 earnings per share. Research analysts predict that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s newer income-focused ETF is reportedly up 19% this year, compared with 10% for JPMorgan’s JEPQ, while charging the same fee. Strong relative performance could support additional iShares inflows and fee revenue. BlackRock ETF outperformance article
• Positive Sentiment: BlackRock continues to highlight Bitcoin’s role as “digital gold” and a hedge against rising U.S. debt and deficits. Management also sees continued strength in Bitcoin, supporting the long-term case for cryptocurrency-related assets under management. BlackRock Bitcoin hedge case article
• Positive Sentiment: Adroit Trading Technologies is integrating its cross-asset execution tools with BlackRock’s Aladdin platform. The partnership may improve Aladdin’s functionality, client retention and potential technology-related revenue. Aladdin integration article
• Positive Sentiment: BlackRock’s crypto portfolio reportedly gained more than $15 billion during August as Bitcoin and Ethereum rallied. The firm is also participating in an Nvidia-led effort tied to AI infrastructure, broadening potential future growth avenues beyond traditional asset management. BlackRock crypto and AI strategy article

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BLK shares. Barclays lifted their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Zacks Research downgraded BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. BNP Paribas Exane upped their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Finally, BMO Capital Markets lifted their price target on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,311.06.

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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