NBH Bank Invests $2.23 Million in BlackRock $BLK

Key Points

• NBH Bank purchased 2,323 BlackRock shares during the second quarter, valued at approximately $2.23 million and representing about 0.9% of the bank’s 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.
• BlackRock declared a quarterly dividend of $5.73 per share, equivalent to an annualized $22.92 payout and a 2.0% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,311.06.

NBH Bank purchased a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,323 shares of the asset manager's stock, valued at approximately $2,234,000. BlackRock makes up approximately 0.9% of NBH Bank's holdings, making the stock its 24th biggest holding.

A number of other large investors also recently made changes to their positions in BLK. Gibson Capital LLC increased its stake in BlackRock by 3.4% in the 4th quarter. Gibson Capital LLC now owns 308 shares of the asset manager's stock valued at $330,000 after buying an additional 10 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of BlackRock by 4.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager's stock valued at $246,000 after buying an additional 10 shares during the period. Great Diamond Partners LLC boosted its stake in shares of BlackRock by 0.4% during the 4th quarter. Great Diamond Partners LLC now owns 2,791 shares of the asset manager's stock valued at $2,987,000 after buying an additional 10 shares during the period. Thoroughbred Financial Services LLC grew its holdings in shares of BlackRock by 1.7% during the 4th quarter. Thoroughbred Financial Services LLC now owns 593 shares of the asset manager's stock valued at $635,000 after acquiring an additional 10 shares in the last quarter. Finally, Breakwater Capital Group increased its stake in shares of BlackRock by 3.8% in the first quarter. Breakwater Capital Group now owns 271 shares of the asset manager's stock worth $261,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Trending Headlines about BlackRock

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 Trading Down 0.4%

BlackRock stock opened at $1,121.85 on Friday. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company's fifty day moving average price is $1,092.75 and its two-hundred day moving average price is $1,049.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The company has a market capitalization of $173.74 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.24 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released 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 company had revenue of $7.08 billion during 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 was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $12.05 EPS. On average, analysts forecast that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders 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 Ratings Changes

BLK has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered BlackRock from a "moderate buy" rating to a "hold" rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised BlackRock from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $1,165.00 to $1,364.00 in a research report on Thursday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,389.00 price target on shares of BlackRock in a report on Thursday, July 16th. UBS Group boosted 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. Finally, Weiss Ratings downgraded BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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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