MOR Wealth Management LLC Makes New $575,000 Investment in BlackRock $BLK

MOR Wealth Management LLC bought a new position in shares of BlackRock (NYSE:BLK) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 598 shares of the asset manager’s stock, valued at approximately $575,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BLK. Aventus Investment Advisors Inc. grew its holdings in BlackRock by 1,330.0% during the second quarter. Aventus Investment Advisors Inc. now owns 286 shares of the asset manager’s stock valued at $275,000 after purchasing an additional 266 shares during the period. Raiffeisen Bank International AG boosted its position in shares of BlackRock by 9.9% during the second quarter. Raiffeisen Bank International AG now owns 2,692 shares of the asset manager’s stock worth $2,558,000 after purchasing an additional 243 shares in the last quarter. Syntax Research Inc. boosted its position in shares of BlackRock by 5.3% during the second quarter. Syntax Research Inc. now owns 552 shares of the asset manager’s stock worth $530,000 after purchasing an additional 28 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of BlackRock by 1.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the asset manager’s stock valued at $8,433,000 after buying an additional 102 shares during the period. Finally, NEOS Investment Management LLC increased its position in shares of BlackRock by 10.8% in the 2nd quarter. NEOS Investment Management LLC now owns 23,402 shares of the asset manager’s stock valued at $22,502,000 after buying an additional 2,273 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $454 million in a single day, accounting for most of the $731 million flowing into U.S. spot Bitcoin ETFs. Continued institutional demand could increase BlackRock’s digital-asset assets under management and fee revenue. Bitcoin Spot ETFs See Huge Inflows as BlackRock Takes Lead
• Positive Sentiment: An updated valuation model raised BlackRock’s estimated fair value to $1,320.81 per share from $1,314.44, reinforcing the view that the company’s earnings beat, inflows and margins support additional upside. BlackRock Stock Gets Fair Value Bump
• Positive Sentiment: BlackRock is seeking to allocate roughly 5% to 20% of target-date funds to private assets, potentially opening a large distribution channel for private equity and private credit products. BlackRock Wants Private Assets in Target-Date Funds
• Positive Sentiment: BlackRock’s support for corporate reincorporation in Texas and its broader tokenization expansion through Securitize could strengthen its positioning in business-friendly and digital-finance markets. BlackRock Casts a Vote of Confidence in Texas

BlackRock Stock Down 0.4%

BLK stock opened at $1,121.85 on Friday. 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 $173.74 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.24 and a beta of 1.41. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The business has a 50-day moving average of $1,092.75 and a 200-day moving average of $1,049.39.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating the consensus estimate of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the business posted $12.05 EPS. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, sell-side 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 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s payout ratio is currently 54.78%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Keefe, Bruyette & Woods lowered BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Evercore reiterated an “outperform” rating and issued a $1,260.00 price objective on shares of BlackRock in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,258.00 target price 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 issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,311.06.

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.