Citizens Financial Group Inc. RI Makes New $5.06 Million Investment in BlackRock $BLK

Citizens Financial Group Inc. RI acquired a new stake in BlackRock (NYSE:BLK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,265 shares of the asset manager’s stock, valued at approximately $5,062,000.

A number of other institutional investors also recently modified their holdings of BLK. Vanguard Group Inc. increased its holdings in shares of BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after purchasing an additional 221,123 shares in the last quarter. BlackRock Inc. acquired a new position in BlackRock during the 2nd quarter worth $9,747,857,000. State Street Corp boosted its position in BlackRock by 0.5% in the 4th quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock valued at $6,705,193,000 after buying an additional 33,752 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of BlackRock by 5,190.3% in the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after buying an additional 5,386,640 shares during the period. Finally, Temasek Holdings Private Ltd increased its stake in shares of BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after buying an additional 237,667 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research reports. BNP Paribas Exane upped their price target on 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 report on Tuesday, August 11th. BMO Capital Markets boosted their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods downgraded shares of BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, UBS Group raised their target price on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, BlackRock presently has an average rating of “Buy” and an average price target of $1,311.06.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Technical momentum remains favorable. BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross,” which technical analysts view as a bullish signal. After Golden Cross, BlackRock Technical Outlook Is Bright
• Positive Sentiment: Income-investor appeal remains intact. BlackRock is highlighted among dividend-paying financial stocks with favorable analyst ratings and potential price-target upside, which could support demand from yield-focused investors. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Positive Sentiment: Bitcoin ETF demand is a modest supportive factor. Tudor Investment reportedly increased its position in BlackRock’s spot Bitcoin ETF to $22.9 million, reinforcing institutional interest in the product and potentially supporting fee-related asset growth. Tudor Investment Boosts Bitcoin ETF Holdings
• Neutral Sentiment: Valuation comparisons offer no decisive catalyst. A Zacks comparison of BlackRock and Affiliated Managers Group examines which asset manager provides better value, but the article does not establish a clear near-term reason for investors to favor BLK. AMG vs. BLK: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Insurance and financing risks are the main overhang. A roughly $14 billion Texas data-center campus owned by Meta and BlackRock may be significantly underinsured against catastrophic events because insurers are reluctant to provide full coverage. The potential for large uncovered losses could increase lender and investment risk concerns, likely contributing to pressure on BLK. Meta and BlackRock’s Data Centre Exposes Lenders to Insurance Gap

BlackRock Stock Performance

BLK stock opened at $1,148.91 on Tuesday. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The company has a market cap of $177.93 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42. The business’s fifty day moving average is $1,056.94 and its 200-day moving average is $1,042.81.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $12.05 earnings per share. Equities research analysts forecast that BlackRock will post 55.63 EPS for the current year.

BlackRock Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.0%. BlackRock’s dividend payout ratio is 54.78%.

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.