Manning & Napier Advisors LLC Invests $98.36 Million in BlackRock $BLK

Key Points

• Manning & Napier Advisors LLC initiated a BlackRock position worth approximately $98.36 million, purchasing 102,294 shares and making BLK its 28th-largest holding.
• BlackRock reported strong quarterly results, with earnings and revenue exceeding estimates and revenue rising 30.6% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $1,311.06.
• The company declared a quarterly dividend of $5.73 per share, equivalent to $22.92 annually and a 2.0% yield; institutional investors collectively own about 80.69% of BlackRock’s stock.

Manning & Napier Advisors LLC bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 102,294 shares of the asset manager's stock, valued at approximately $98,362,000. BlackRock accounts for about 1.3% of Manning & Napier Advisors LLC's investment portfolio, making the stock its 28th biggest position. Manning & Napier Advisors LLC owned approximately 0.07% of BlackRock at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BLK. BlackRock Inc. bought a new position in BlackRock in the 2nd quarter worth about $9,747,857,000. State Street Corp raised its stake in shares of BlackRock by 0.5% during the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager's stock valued at $6,705,193,000 after acquiring an additional 33,752 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares in the last quarter. Temasek Holdings Private Ltd boosted its holdings in shares of BlackRock by 4.7% in the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager's stock valued at $5,126,387,000 after purchasing an additional 237,667 shares during the period. Finally, Bank of America Corp DE grew its stake in BlackRock by 0.7% in the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager's stock worth $5,032,603,000 after purchasing an additional 35,069 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s roughly $965 million investment in Five Below NASDAQ: FIVE helped draw attention to its ability to deploy capital into high-growth companies. Five Below also reported strong quarterly results, sending its shares to a record high and potentially highlighting the value of BlackRock’s investment activity. Five Below Stock Soars Following BlackRock Investment
• Positive Sentiment: BlackRock’s covered-call Bitcoin fund reportedly made its first monthly distribution, with an annualized rate of about 18.5%. The product could create a new fee and asset-gathering opportunity, although the high distribution reflects option income and may limit upside participation in Bitcoin. BlackRock Bitcoin Fund Pays First Dividend
• Neutral Sentiment: BlackRock has reiterated that its long-term investment case for Bitcoin remains intact despite a sharp correction. The comments support the firm’s broader digital-asset strategy, but do not directly affect near-term earnings unless they lead to additional fund inflows. BlackRock’s Long-Term Bitcoin Thesis
• Neutral Sentiment: Routine disclosures showed BlackRock subsidiaries’ holdings in Stora Enso fell below 5%, while other reports discussed BlackRock ETFs. These items have limited immediate implications for BLK’s fundamentals. BlackRock Subsidiaries Report Stora Enso Holdings
• Negative Sentiment: BlackRock is reportedly seeking buyers for approximately $671 million of loans held by TCP Capital, using Keefe, Bruyette & Woods to explore a sale. The move is intended to reshape the private-credit vehicle after a difficult period, but it may raise concerns about credit quality, valuation and execution in BlackRock’s private-markets platform. BlackRock Puts TCP Capital Loans on the Block
• Negative Sentiment: A law firm is soliciting investors who experienced losses in BlackRock mutual funds as part of an investigation into alleged misleading disclosures. The announcement is not a formal finding, but it adds legal and reputational risk. BlackRock Investor Rights Investigation

BlackRock Trading Up 1.3%

BLK opened at $1,171.83 on Tuesday. 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 firm has a market cap of $181.48 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.28 and a beta of 1.42. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a fifty day moving average price of $1,070.33 and a 200-day moving average price of $1,044.42.

BlackRock (NYSE:BLK - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter last year, the company earned $12.05 earnings per share. As a group, equities research analysts anticipate that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on BLK shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $1,258.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Evercore reissued an "outperform" rating and set a $1,260.00 price target on shares of BlackRock in a research report on Monday, August 10th. UBS Group raised their price target on BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Bank of America upped their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, BlackRock currently has a consensus rating of "Buy" and a consensus target price 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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