Junto Capital Management LP Sells 19,187 Shares of BlackRock $BLK

Key Points

• Junto Capital Management reduced its BlackRock stake by 11.9%, selling 19,187 shares and retaining 141,886 shares valued at approximately $136.4 million. BlackRock remains Junto’s ninth-largest holding, representing about 2.4% of its portfolio.
• BlackRock reported strong quarterly results, with EPS of $13.91 and revenue of $7.08 billion, exceeding analyst estimates; revenue increased 30.6% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,311.06.
• The company declared a quarterly dividend of $5.73 per share, equivalent to an annualized $22.92 and a 2.1% yield. Recent business developments include investments in infrastructure and artificial intelligence, while a law-firm investigation into BlackRock mutual funds represents a potential litigation and reputational risk.

Junto Capital Management LP trimmed its position in BlackRock (NYSE:BLK - Free Report) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,886 shares of the asset manager's stock after selling 19,187 shares during the period. BlackRock makes up approximately 2.4% of Junto Capital Management LP's investment portfolio, making the stock its 9th largest holding. Junto Capital Management LP owned 0.09% of BlackRock worth $136,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. California State Teachers Retirement System raised its position in BlackRock by 96,671.4% in the 2nd quarter. California State Teachers Retirement System now owns 213,813,443 shares of the asset manager's stock valued at $205,594,454,000 after buying an additional 213,592,496 shares during the last quarter. BlackRock Inc. acquired a new position in BlackRock during the 2nd quarter worth approximately $9,747,857,000. Corient Private Wealth LLC boosted its position 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 acquiring an additional 5,386,640 shares during the last quarter. Bank of America Corp DE bought a new position in shares of BlackRock during the 2nd quarter worth approximately $4,409,095,000. Finally, Norges Bank acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $2,742,680,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on BLK. Weiss Ratings lowered shares of BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,389.00 price target on shares of BlackRock in a research note on Thursday, July 16th. Evercore restated an "outperform" rating and set a $1,260.00 price objective on shares of BlackRock in a research note on Monday, August 10th. Bank of America raised their price objective on BlackRock from $1,298.00 to $1,320.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $1,258.00 target price on shares of BlackRock in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,311.06.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock-managed funds are participating in a roughly $1 billion primary equity investment in Adani Airport Holdings alongside Temasek, Alpha Wave Global and Premji Invest. The capital will support airport expansion, modernization and related real-estate projects, highlighting BlackRock’s ability to deploy capital into large infrastructure opportunities. Adani Airports to raise approximately $1 billion of primary equity
• Positive Sentiment: BlackRock’s iShares investment strategy chief said artificial intelligence remains a long-term opportunity following strong second-quarter earnings across the sector. Continued investor demand for AI-focused ETFs could support iShares asset flows and fee revenue. What comes next for ETF investors in the AI trade
• Positive Sentiment: BlackRock was reported as an investor in French AI startup Mistral AI’s €3 billion Series D funding round. The investment increases BlackRock’s exposure to a high-growth technology theme, although the financial effect on BLK is likely limited relative to its overall business. Mistral AI raises €3 billion in Samsung-led Series D round
• Neutral Sentiment: BlackRock executives discussed investors moving beyond the traditional 60/40 portfolio and the need for Europe to accelerate AI innovation. These trends could create opportunities for alternative investments and thematic products, but the articles do not identify a material near-term earnings impact. Investors are moving away from the 60/40 portfolio mix
• Neutral Sentiment: BlackRock also participated in Rentomojo’s Indian IPO anchor round. The investment expands its emerging-market exposure but is unlikely to materially affect consolidated results. Rentomojo IPO anchor round
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have issued materially misleading business information. The announcement does not establish wrongdoing, but it adds litigation and reputational risk and is the clearest negative catalyst in the recent news flow. Rosen Law Firm investigation of BlackRock mutual funds

BlackRock Price Performance

NYSE:BLK opened at $1,072.98 on Thursday. The stock has a market capitalization of $166.17 billion, a PE ratio of 25.64, a P/E/G ratio of 1.21 and a beta of 1.41. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The firm has a fifty day simple moving average of $1,100.73 and a 200 day simple moving average of $1,049.52. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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. The firm had revenue of $7.08 billion for 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%. The company's quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.05 earnings per share. On average, research analysts expect that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

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.