Wellington Management Group LLP Purchases 850,406 Shares of BlackRock $BLK

Wellington Management Group LLP lifted its position in shares of BlackRock (NYSE:BLK) by 23.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,495,074 shares of the asset manager’s stock after purchasing an additional 850,406 shares during the quarter. BlackRock accounts for approximately 0.7% of Wellington Management Group LLP’s investment portfolio, making the stock its 17th largest holding. Wellington Management Group LLP’s holdings in BlackRock were worth $4,322,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. RMG Wealth Management LLC bought a new position in BlackRock in the first quarter worth $25,000. Addison Advisors LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of BlackRock in the 2nd quarter valued at $25,000. Evolution Wealth Management Inc. bought a new position in shares of BlackRock during the 4th quarter worth about $26,000. Finally, Meeder Asset Management Inc. bought a new position in shares of BlackRock during the 2nd quarter worth about $30,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

BlackRock stock opened at $1,162.58 on Friday. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The company has a market cap of $180.05 billion, a PE ratio of 27.79, a PEG ratio of 1.29 and a beta of 1.42. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average is $1,079.72 and its two-hundred day moving average is $1,047.58.

BlackRock (NYSE:BLK) last posted its quarterly 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. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the business posted $12.05 EPS. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. Equities analysts anticipate that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders 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 annualized dividend and a yield of 2.0%. BlackRock’s dividend payout ratio is presently 54.78%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BLK. Bank of America upped their target price on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Morgan Stanley raised their price target on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. BNP Paribas Exane upped their price objective 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 cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,258.00 price target on shares of BlackRock in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,311.06.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s cryptocurrency portfolio reportedly gained more than $15 billion in August, while the firm purchased more than $3.1 billion of Bitcoin and Ethereum-linked assets over eight days. Rising crypto prices and strong inflows into BlackRock’s iShares Bitcoin and Ethereum ETFs could increase fee revenue and reinforce its position in digital-asset investing. BlackRock cryptocurrency portfolio up by over $15 billion so far in August
• Positive Sentiment: A newer BlackRock ETF is reportedly up 19% this year, outperforming JPMorgan’s popular JEPQ while charging the same fee. Better-performing products may help BlackRock attract assets and expand recurring management fees. BlackRock ETF performance comparison
• Positive Sentiment: Adroit Trading Technologies announced integration with BlackRock’s Aladdin platform, expanding access to cross-asset execution tools for mutual clients. The agreement supports Aladdin’s reach and could modestly strengthen BlackRock’s technology-related revenue opportunity. Adroit Trading Technologies Aladdin integration
• Positive Sentiment: BlackRock executives continue to describe Bitcoin as a potential hedge against rising U.S. debt and deficits and say institutional demand is strengthening. This supports the firm’s broader strategy of positioning its ETFs and investment products around digital assets.
• Neutral Sentiment: BlackRock disclosed a significant stake in QIAGEN (QGEN) through a filing with the Dutch financial regulator. The investment may reflect portfolio-management activity, but it is not expected to have a material near-term effect on BLK earnings. BlackRock stake in QIAGEN
• Neutral Sentiment: BlackRock participated in Piramal Finance’s heavily oversubscribed Indian share offering, highlighting continued institutional demand for its investment-management capabilities but providing limited direct impact on BLK’s financial results.
• Neutral Sentiment: BlackRock’s view that the CLARITY Act is less critical for Bitcoin than for other cryptocurrencies suggests the company expects Bitcoin’s institutional adoption to continue even amid regulatory uncertainty.
• Negative Sentiment: Zacks Research downgraded BlackRock from “strong buy” to “hold,” potentially adding valuation pressure after the stock’s substantial advance and recent proximity to its 52-week high.
• Negative Sentiment: The Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds and allegations of misleading business information. The announcement is not a formal finding of wrongdoing, but it creates legal and reputational overhang for investors. Rosen Law Firm BlackRock investigation

BlackRock Profile

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.