Sequoia Financial Advisors LLC Purchases 2,398 Shares of BlackRock $BLK

Key Points

• Sequoia Financial Advisors increased its BlackRock stake by 5.1% in the second quarter, purchasing 2,398 additional shares for a total of 49,801 shares valued at approximately $47.9 million. Institutional investors collectively own 80.69% of BlackRock.
• BlackRock exceeded quarterly expectations, reporting $13.91 in EPS and $7.08 billion in revenue, with revenue rising 30.6% year over year. The company also declared a quarterly dividend of $5.73 per share, equal to a 2.1% annualized yield.
• Despite shares opening down 2.0% at $1,072.98, analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,311.06; most major firms have issued or reiterated buy-equivalent ratings.

Sequoia Financial Advisors LLC grew its position in BlackRock (NYSE:BLK - Free Report) by 5.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,801 shares of the asset manager's stock after buying an additional 2,398 shares during the quarter. Sequoia Financial Advisors LLC's holdings in BlackRock were worth $47,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new position in BlackRock during the fourth quarter valued at approximately $26,000. RMG Wealth Management LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at $25,000. Addison Advisors LLC bought a new position in shares of BlackRock in the 2nd quarter valued at $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of BlackRock in the 2nd quarter valued at $25,000. Finally, Birchbrook Inc. acquired a new position in shares of BlackRock during the 4th quarter worth $31,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 2.0%

Shares of NYSE BLK opened at $1,072.98 on Thursday. The company has a 50 day simple moving average of $1,100.73 and a 200 day simple moving average of $1,049.52. 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 has a 1 year low of $917.39 and a 1 year high of $1,219.94. The firm has a market cap of $166.17 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.69 by $1.22. The firm 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%. The company's revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the company posted $12.05 EPS. On average, research analysts forecast that BlackRock will post 55.86 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 8th. BlackRock's payout ratio is 54.78%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BLK shares. 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. UBS Group increased their target price on shares of BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,258.00 price target on shares of BlackRock in a research note on Thursday, July 16th. Keefe, Bruyette & Woods cut shares of BlackRock from a "moderate buy" rating to a "hold" rating in a research report on Friday, August 7th. Finally, BMO Capital Markets increased their price objective on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. One investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,311.06.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock-managed funds are participating in a roughly $1 billion primary equity investment in Adani Airport Holdings alongside Temasek, Alpha Wave Global and Premji Invest. The capital will support airport expansion, modernization and related real-estate projects, highlighting BlackRock’s ability to deploy capital into large infrastructure opportunities. Adani Airports to raise approximately $1 billion of primary equity
• Positive Sentiment: BlackRock’s iShares investment strategy chief said artificial intelligence remains a long-term opportunity following strong second-quarter earnings across the sector. Continued investor demand for AI-focused ETFs could support iShares asset flows and fee revenue. What comes next for ETF investors in the AI trade
• Positive Sentiment: BlackRock was reported as an investor in French AI startup Mistral AI’s €3 billion Series D funding round. The investment increases BlackRock’s exposure to a high-growth technology theme, although the financial effect on BLK is likely limited relative to its overall business. Mistral AI raises €3 billion in Samsung-led Series D round
• Neutral Sentiment: BlackRock executives discussed investors moving beyond the traditional 60/40 portfolio and the need for Europe to accelerate AI innovation. These trends could create opportunities for alternative investments and thematic products, but the articles do not identify a material near-term earnings impact. Investors are moving away from the 60/40 portfolio mix
• Neutral Sentiment: BlackRock also participated in Rentomojo’s Indian IPO anchor round. The investment expands its emerging-market exposure but is unlikely to materially affect consolidated results. Rentomojo IPO anchor round
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have issued materially misleading business information. The announcement does not establish wrongdoing, but it adds litigation and reputational risk and is the clearest negative catalyst in the recent news flow. Rosen Law Firm investigation of BlackRock mutual funds

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.

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