BlackRock $BLK Shares Acquired by National Pension Service

National Pension Service lifted its holdings in shares of BlackRock (NYSE:BLK) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,771 shares of the asset manager’s stock after purchasing an additional 6,675 shares during the period. National Pension Service owned about 0.21% of BlackRock worth $315,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in BlackRock by 96,671.4% during the second quarter. California State Teachers Retirement System now owns 213,813,443 shares of the asset manager’s stock worth $205,594,454,000 after buying an additional 213,592,496 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of BlackRock during the second quarter valued at $9,747,857,000. Corient Private Wealth LLC boosted its stake in shares of BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares during the last quarter. Bank of America Corp DE purchased a new stake in BlackRock during the 2nd quarter worth about $4,409,095,000. Finally, Norges Bank acquired a new position in BlackRock in the 4th quarter valued at about $2,742,680,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BLK. BNP Paribas Exane upped their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Bank of America boosted their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Morgan Stanley upped 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. Weiss Ratings cut shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Evercore reiterated an “outperform” rating and issued a $1,260.00 price target on shares of BlackRock in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued 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 a consensus price target of $1,311.06.

BlackRock Stock Down 2.0%

BLK opened at $1,072.98 on Thursday. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The business has a 50-day moving average of $1,100.73 and a two-hundred day 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. The stock has a market capitalization of $166.17 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.41.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the company earned $12.05 earnings per share. The company’s quarterly revenue was up 30.6% on a year-over-year basis. On average, research analysts expect that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Dividend Announcement

The business 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 dividend of $5.73 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. BlackRock’s payout ratio is currently 54.78%.

BlackRock News Roundup

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.