Papamarkou Wellner Asset Management inc. Invests $2.12 Million in BlackRock $BLK

Key Points

• Papamarkou Wellner Asset Management initiated a $2.12 million BlackRock position in the second quarter, purchasing 2,207 shares. BlackRock now represents about 0.5% of the firm’s portfolio, while institutional investors collectively own 80.69% of the stock.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $1,311.06. JPMorgan upgraded BlackRock to “overweight,” while several firms raised their targets to as high as $1,389.
• BlackRock reported quarterly EPS of $13.91, exceeding estimates of $12.69, while revenue rose 30.6% year over year to $7.08 billion. The company also declared a quarterly dividend of $5.73, equivalent to an annualized yield of about 2.0%.

Papamarkou Wellner Asset Management inc. bought a new stake in BlackRock (NYSE:BLK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,207 shares of the asset manager's stock, valued at approximately $2,122,000. BlackRock accounts for about 0.5% of Papamarkou Wellner Asset Management inc.'s portfolio, making the stock its 23rd largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares during the period. Bison Wealth LLC lifted its position in BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 17 shares during the period. Schnieders Capital Management LLC. bought a new position in BlackRock during the 2nd quarter valued at $259,000. Nebula Research & Development LLC bought a new position in BlackRock during the 2nd quarter valued at $548,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of BlackRock during the 2nd quarter valued at $98,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BLK. JPMorgan Chase & Co. upgraded BlackRock from a "neutral" rating to an "overweight" rating and upped their target price for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. Evercore reiterated an "outperform" rating and issued a $1,260.00 price objective on shares of BlackRock in a research note on Monday, August 10th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,389.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods lowered shares of BlackRock from a "moderate buy" rating to a "hold" rating in a research note on Friday, August 7th. One investment 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 stock. Based on data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average target price of $1,311.06.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s newer income-focused ETF is reportedly up 19% this year, compared with 10% for JPMorgan’s JEPQ, while charging the same fee. Strong relative performance could support additional iShares inflows and fee revenue. BlackRock ETF outperformance article
• Positive Sentiment: BlackRock continues to highlight Bitcoin’s role as “digital gold” and a hedge against rising U.S. debt and deficits. Management also sees continued strength in Bitcoin, supporting the long-term case for cryptocurrency-related assets under management. BlackRock Bitcoin hedge case article
• Positive Sentiment: Adroit Trading Technologies is integrating its cross-asset execution tools with BlackRock’s Aladdin platform. The partnership may improve Aladdin’s functionality, client retention and potential technology-related revenue. Aladdin integration article
• Positive Sentiment: BlackRock’s crypto portfolio reportedly gained more than $15 billion during August as Bitcoin and Ethereum rallied. The firm is also participating in an Nvidia-led effort tied to AI infrastructure, broadening potential future growth avenues beyond traditional asset management. BlackRock crypto and AI strategy article

BlackRock Stock Down 0.5%

Shares of NYSE:BLK opened at $1,167.69 on Friday. The company has a 50 day moving average of $1,077.50 and a 200-day moving average of $1,046.77. The stock has a market cap of $180.84 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 1.29 and a beta of 1.42. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the company earned $12.05 earnings per share. The firm's revenue was up 30.6% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock will post 55.86 earnings per share for the current 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 $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock's dividend payout ratio is currently 54.78%.

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.

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