Munich Reinsurance Co Stock Corp in Munich Buys 8,755 Shares of BlackRock $BLK

Key Points

• Munich Reinsurance Co. significantly increased its BlackRock stake by acquiring 8,755 shares, bringing its holdings to 9,059 shares valued at approximately $8.7 million. Institutional investors and hedge funds collectively own 80.69% of BlackRock.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,311.06, although Keefe, Bruyette & Woods downgraded the stock to “Hold.”
• BlackRock exceeded quarterly earnings and revenue expectations, reporting $13.91 in EPS and $7.08 billion in revenue, while announcing a quarterly dividend of $5.73 per share, equivalent to a 2.0% annualized yield.

Munich Reinsurance Co Stock Corp in Munich lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 2,879.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,059 shares of the asset manager's stock after acquiring an additional 8,755 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in BlackRock were worth $8,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. RMG Wealth Management LLC bought a new stake in shares of BlackRock in the 1st quarter valued at $25,000. Addison Advisors LLC bought a new position in BlackRock during the second quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in BlackRock in the second quarter valued at $25,000. Evolution Wealth Management Inc. acquired a new position in BlackRock in the fourth quarter valued at $26,000. Finally, Meeder Asset Management Inc. bought a new stake in BlackRock during the second quarter valued at $30,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on BLK. Bank of America lifted their price objective on BlackRock from $1,298.00 to $1,320.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Barclays raised their target price on BlackRock from $1,340.00 to $1,450.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. BNP Paribas Exane lifted their target price on BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Morgan Stanley increased their price target on BlackRock from $1,383.00 to $1,488.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods downgraded shares of BlackRock from a "moderate buy" rating to a "hold" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,311.06.

BlackRock Trading Down 0.4%

Shares of BlackRock stock opened at $1,121.85 on Friday. The stock has a market capitalization of $173.74 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The stock has a 50 day moving average price of $1,092.75 and a two-hundred day moving average price of $1,049.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.73 billion. During the same period last year, the business earned $12.05 EPS. BlackRock's quarterly revenue was up 30.6% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed 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. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock's dividend payout ratio (DPR) is 54.78%.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $454 million in a single day, accounting for most of the $731 million flowing into U.S. spot Bitcoin ETFs. Continued institutional demand could increase BlackRock’s digital-asset assets under management and fee revenue. Bitcoin Spot ETFs See Huge Inflows as BlackRock Takes Lead
• Positive Sentiment: An updated valuation model raised BlackRock’s estimated fair value to $1,320.81 per share from $1,314.44, reinforcing the view that the company’s earnings beat, inflows and margins support additional upside. BlackRock Stock Gets Fair Value Bump
• Positive Sentiment: BlackRock is seeking to allocate roughly 5% to 20% of target-date funds to private assets, potentially opening a large distribution channel for private equity and private credit products. BlackRock Wants Private Assets in Target-Date Funds
• Positive Sentiment: BlackRock’s support for corporate reincorporation in Texas and its broader tokenization expansion through Securitize could strengthen its positioning in business-friendly and digital-finance markets. BlackRock Casts a Vote of Confidence in Texas

BlackRock 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.

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.

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