Corient Private Wealth LP Sells 5,996 Shares of BlackRock $BLK

Corient Private Wealth LP reduced its position in BlackRock (NYSE:BLK) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,887 shares of the asset manager’s stock after selling 5,996 shares during the period. Corient Private Wealth LP’s holdings in BlackRock were worth $93,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of BlackRock by 96,671.4% during the 2nd quarter. California State Teachers Retirement System now owns 213,813,443 shares of the asset manager’s stock valued at $205,594,454,000 after purchasing an additional 213,592,496 shares during the last quarter. Washington Trust Advisors Inc. increased its holdings in BlackRock by 27.1% during the second quarter. Washington Trust Advisors Inc. now owns 1,686 shares of the asset manager’s stock valued at $1,621,000 after buying an additional 360 shares during the last quarter. Ameritas Advisory Services LLC raised its position in BlackRock by 110.6% in the second quarter. Ameritas Advisory Services LLC now owns 1,070 shares of the asset manager’s stock worth $1,028,000 after acquiring an additional 562 shares during the period. Wedmont Private Capital raised its position in BlackRock by 1.9% in the second quarter. Wedmont Private Capital now owns 2,506 shares of the asset manager’s stock worth $2,597,000 after acquiring an additional 47 shares during the period. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of BlackRock by 52.4% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 189 shares of the asset manager’s stock worth $182,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s flagship private-credit fund received fewer withdrawal requests in the third quarter, while redemption activity across other funds also declined. The improvement suggests investor sentiment may be stabilizing and could reduce liquidity pressure across private credit and support fee-generating assets under management. BlackRock private credit fund sees redemption pressure ease in third quarter
• Positive Sentiment: A separate disclosure covering four BlackRock private-credit funds also highlighted third-quarter redemption requests. Together with the reported decline in withdrawals, the updates may ease concerns about forced asset sales, fund liquidity and pressure on BlackRock’s alternative-investment franchise. BlackRock discloses Q3 redemption requests across four private credit funds
• Neutral Sentiment: BlackRock’s MuniYield New York Quality Fund declared a $0.0512 dividend. The payment supports income-oriented investors and may help product demand, but it is a fund-level distribution rather than a direct change to BlackRock’s corporate earnings. BlackRock MuniYield New York Quality Fund declares $0.0512 dividend
• Neutral Sentiment: Articles promoting BlackRock’s higher-yielding ETFs and technology-focused closed-end funds could support product visibility and asset gathering, but they provide no new companywide financial guidance. BlackRock ETFs offer higher income
• Neutral Sentiment: A headline about Block’s proposed national trust bank concerns Block, Inc. (NYSE: XYZ), not BlackRock (NYSE: BLK), and should not be interpreted as news affecting BlackRock’s stock. Block Makes a Federal Trust Bank Move

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BLK shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,258.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. UBS Group boosted their price target on BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a report on Thursday, July 16th. BMO Capital Markets upped their price target on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, Barclays raised their price objective on BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,311.06.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,080.78 on Friday. The stock has a market cap of $167.38 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The firm has a fifty day moving average price of $1,103.83 and a 200-day moving average price 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 (NYSE:BLK) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. The company had revenue of $7.08 billion for 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 revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $12.05 EPS. Equities analysts anticipate that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be given a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 8th. BlackRock’s payout ratio is presently 54.78%.

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.