Blue Chip Partners LLC lifted its holdings in shares of BlackRock (NYSE:BLK – Free Report) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,197 shares of the asset manager’s stock after purchasing an additional 903 shares during the period. BlackRock accounts for 1.9% of Blue Chip Partners LLC’s holdings, making the stock its 22nd biggest holding. Blue Chip Partners LLC’s holdings in BlackRock were worth $26,155,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in BLK. RMG Wealth Management LLC acquired a new stake in BlackRock during the first quarter worth approximately $25,000. Evolution Wealth Management Inc. bought a new position in BlackRock in the 4th quarter valued at about $26,000. Birchbrook Inc. bought a new stake in BlackRock during the fourth quarter worth $31,000. LFA Lugano Financial Advisors SA purchased a new position in BlackRock during the 4th quarter worth $32,000. Finally, Basepoint Wealth LLC bought a new stake in BlackRock in the 4th quarter worth about $32,000. 80.69% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
BLK has been the subject of several research analyst reports. Bank of America raised their target price on BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Zacks Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Evercore reaffirmed an “outperform” rating and set a $1,145.00 target price on shares of BlackRock in a report on Friday, July 10th. Morgan Stanley upped their target price on BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, TD Cowen dropped their price objective on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Buy” and an average target price of $1,304.29.
More BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock announced a quarterly dividend of $5.73 per share, reinforcing confidence in the firm’s cash generation and shareholder returns. BlackRock Declares Quarterly Dividend of $5.73 on Common Stock
- Positive Sentiment: Investor interest in BlackRock’s ETF franchise remains strong, with reports highlighting continued momentum in iShares and the recovery in Bitcoin ETF inflows led by IBIT. BlackRock (BLK) Could Be 21% Below Fair Value As Dividend Signals Confidence BlackRock’s IBIT Leads Nearly $1B Bitcoin ETF Recovery as Inflows Hit 7 Straight Days
- Positive Sentiment: BlackRock is also being tied to large-scale growth opportunities, including a reported $12.3 billion bond financing for Meta’s Texas AI data facility, underscoring its reach in capital markets and infrastructure finance. BlackRock (BLK) Markets $12.3B in Bonds for Meta’s Texas AI Data Facility
- Neutral Sentiment: BlackRock disclosed a larger stake in Qiagen, raising its voting power to 13%; this is notable for BlackRock’s portfolio activity, but it is not a direct catalyst for BLK earnings. BlackRock builds 11.6% stake in Qiagen, lifting voting power to 13%
- Neutral Sentiment: BlackRock joined other firms in a $15 million Bitcoin security consortium focused on quantum-resistant protections, a long-term strategic initiative with limited immediate financial impact. BlackRock, Coinbase and Strategy Pledge $15M to Quantum-Proof Bitcoin
- Negative Sentiment: Some coverage noted bond investors demanding higher yields on the Meta-linked financing deal, which may reflect increased caution around AI infrastructure risk and could slightly pressure sentiment around BlackRock’s role in the transaction. Bond investors demand higher yields on BlackRock AI-linked financing deal
BlackRock Trading Down 0.1%
NYSE BLK opened at $1,054.61 on Monday. 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 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average is $1,029.48 and its 200 day moving average is $1,041.50. The firm has a market capitalization of $163.45 billion, a PE ratio of 25.21, a P/E/G ratio of 1.19 and a beta of 1.43.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data 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 net margin of 24.09% and a return on equity of 15.01%. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the business earned $12.05 EPS. BlackRock’s revenue was up 30.6% compared to the same quarter last year. Research analysts forecast that BlackRock will post 55.63 earnings per share for the current fiscal year.
BlackRock Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given a $5.73 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.2%. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.
Insider Buying and Selling
In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the sale, the chief executive officer owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.92% of the company’s stock.
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.
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