Rayburn West Financial Services LLC Buys Shares of 2,982 BlackRock $BLK

Key Points

• Rayburn West Financial Services bought 2,982 BlackRock shares worth approximately $2.87 million, making BLK its 24th-largest holding and about 1.6% of its portfolio. Institutional investors collectively own 80.69% of BlackRock.
• BlackRock reported strong quarterly results, with adjusted EPS of $13.91 and revenue of $7.08 billion, surpassing analyst estimates; revenue increased 30.6% year over year.
• The company declared a quarterly dividend of $5.73 per share, equivalent to a 2.0% yield, while analysts maintain an overall “Buy” rating and an average price target of $1,311.06.

Rayburn West Financial Services LLC purchased a new position in BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,982 shares of the asset manager's stock, valued at approximately $2,867,000. BlackRock accounts for about 1.6% of Rayburn West Financial Services LLC's portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legal & General Group Plc grew its holdings in BlackRock by 0.8% during the fourth quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager's stock valued at $985,331,000 after purchasing an additional 7,457 shares during the period. Liberty One Investment Management LLC raised its stake in shares of BlackRock by 30.7% in the first quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager's stock worth $4,675,000 after buying an additional 1,141 shares during the period. Texas Yale Capital Corp. raised its stake in shares of BlackRock by 32.2% in the fourth quarter. Texas Yale Capital Corp. now owns 5,764 shares of the asset manager's stock worth $6,169,000 after buying an additional 1,405 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of BlackRock by 94.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 26,828 shares of the asset manager's stock valued at $28,720,000 after buying an additional 13,040 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of BlackRock by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager's stock valued at $4,108,968,000 after buying an additional 12,019 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BLK stock opened at $1,155.78 on Wednesday. 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 $1,059.83 and its 200-day moving average price is $1,043.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market capitalization of $179.00 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating the consensus estimate of $12.69 by $1.22. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock's quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the company posted $12.05 earnings per share. On average, equities analysts anticipate that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BLK shares. 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. Bank of America increased 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. BNP Paribas Exane lifted their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Weiss Ratings lowered BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upgraded BlackRock from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $1,165.00 to $1,364.00 in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $1,311.06.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin's Investment Case Hasn't Changed, BlackRock Says
• Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
• Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
• Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
• Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk

About BlackRock

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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