NewEdge Wealth LLC Has $6.79 Million Position in BlackRock $BLK

Key Points

• NewEdge Wealth LLC trimmed its BlackRock stake by 21.7% in the first quarter, leaving it with 7,056 shares worth about $6.79 million at quarter-end.
• BlackRock reported better-than-expected second-quarter results, with EPS of $13.91 and revenue of $7.08 billion, both above analyst forecasts, while revenue rose 30.6% year over year.
• The company also announced a quarterly dividend of $5.73 per share, and analysts remain broadly bullish with a consensus rating of Buy and a target price around $1,304.

NewEdge Wealth LLC cut its stake in shares of BlackRock (NYSE:BLK - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,056 shares of the asset manager's stock after selling 1,952 shares during the quarter. NewEdge Wealth LLC's holdings in BlackRock were worth $6,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alesco Advisors LLC An ESL Co bought a new stake in BlackRock in the 1st quarter valued at about $912,000. Acumen Wealth Advisors LLC raised its stake in BlackRock by 919.4% during the 1st quarter. Acumen Wealth Advisors LLC now owns 1,101 shares of the asset manager's stock worth $1,059,000 after buying an additional 993 shares during the period. Magellan Asset Management Ltd boosted its holdings in BlackRock by 16.9% in the first quarter. Magellan Asset Management Ltd now owns 76 shares of the asset manager's stock worth $73,000 after acquiring an additional 11 shares in the last quarter. Temasek Holdings Private Ltd grew its stake in 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 acquiring an additional 237,667 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of BlackRock during the first quarter valued at approximately $12,469,000. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Down 1.7%

NYSE BLK opened at $1,039.14 on Friday. The firm has a market capitalization of $161.06 billion, a P/E ratio of 24.84, a PEG ratio of 1.19 and a beta of 1.43. The business has a fifty day simple moving average of $1,030.01 and a 200 day simple moving average of $1,041.96. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 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 analysts' expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The company's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm earned $12.05 EPS. On average, analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock's payout ratio is 54.78%.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin ETF, IBIT, is leading a rebound in Bitcoin ETF flows, with inflows extending to seven straight days and nearly $1 billion returning to the category. That supports sentiment around BlackRock’s fast-growing ETF business. BlackRock’s IBIT Leads Nearly $1B Bitcoin ETF Recovery as Inflows Hit 7 Straight Days
• Positive Sentiment: BlackRock also gained attention for joining Strategy, Coinbase, and others in a $15 million Bitcoin security consortium aimed at funding quantum-resistant protections for the network, reinforcing its role as a major institutional player in crypto infrastructure. BlackRock, Coinbase and Strategy Pledge $15M to Quantum-Proof Bitcoin
• Positive Sentiment: The company continues to lean into large-scale infrastructure finance, including reports that BlackRock is helping fund Meta’s data-center buildout and that its Global Infrastructure Partners unit is exploring securitization tied to private capital stakes, which highlights fee-generating opportunities in private markets and AI-related investing. BlackRock Leads $12B Meta Data Center Debt, Buys Aligned
• Neutral Sentiment: BlackRock declared a quarterly dividend of $5.73 per share, which underscores steady cash generation and may attract income-focused investors, but is not a major new growth catalyst. BlackRock Declares Quarterly Dividend of $5.73 on Common Stock
• Negative Sentiment: A law firm announced an investigation into potential securities claims involving BlackRock mutual funds, which could create legal overhang and weigh on sentiment if the probe gains traction. BlackRock Investor News: If You Have Suffered Losses in BlackRock, Inc. Mutual Funds, You Are Encouraged to Contact The Rosen Law Firm About Your Rights

Insider Activity

In other BlackRock news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the sale, the president owned 210,186 shares of the company's stock, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 33,900 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLK shares. UBS Group increased their target price on BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Barclays boosted their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Morgan Stanley raised their price objective on shares of BlackRock from $1,383.00 to $1,488.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,389.00 price objective on shares of BlackRock in a report on Thursday, July 16th. Finally, BNP Paribas Exane boosted their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $1,304.29.

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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