Bank of Nova Scotia Buys 105,855 Shares of BlackRock $BLK

Bank of Nova Scotia boosted its position in shares of BlackRock (NYSE:BLK) by 283.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,236 shares of the asset manager’s stock after buying an additional 105,855 shares during the quarter. Bank of Nova Scotia owned 0.09% of BlackRock worth $137,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Evolution Wealth Management Inc. purchased a new stake in shares of BlackRock during the 4th quarter valued at $26,000. Birchbrook Inc. acquired a new position in BlackRock in the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA purchased a new position in shares of BlackRock during the fourth quarter worth $32,000. Basepoint Wealth LLC purchased a new stake in shares of BlackRock in the fourth quarter worth about $32,000. Finally, Swiss RE Ltd. acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $33,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a research note on Thursday, July 16th. TD Cowen cut their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. BNP Paribas Exane boosted 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. Morgan Stanley increased their price target on BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. upgraded shares of BlackRock from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. 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.com, BlackRock presently has an average rating of “Buy” and an average price target of $1,304.29.

BlackRock Stock Down 1.7%

BLK opened at $1,039.14 on Friday. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a market cap of $161.06 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.19 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The business’s fifty day moving average is $1,030.01 and its two-hundred day moving average is $1,041.96.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the business posted $12.05 earnings per share. BlackRock’s revenue was up 30.6% compared to the same quarter last year. Analysts anticipate that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors 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 yield of 2.2%. BlackRock’s payout ratio is 54.78%.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin ETF, IBIT, is leading a rebound in Bitcoin ETF flows, with inflows extending to seven straight days and nearly $1 billion returning to the category. That supports sentiment around BlackRock’s fast-growing ETF business. BlackRock’s IBIT Leads Nearly $1B Bitcoin ETF Recovery as Inflows Hit 7 Straight Days
• Positive Sentiment: BlackRock also gained attention for joining Strategy, Coinbase, and others in a $15 million Bitcoin security consortium aimed at funding quantum-resistant protections for the network, reinforcing its role as a major institutional player in crypto infrastructure. BlackRock, Coinbase and Strategy Pledge $15M to Quantum-Proof Bitcoin
• Positive Sentiment: The company continues to lean into large-scale infrastructure finance, including reports that BlackRock is helping fund Meta’s data-center buildout and that its Global Infrastructure Partners unit is exploring securitization tied to private capital stakes, which highlights fee-generating opportunities in private markets and AI-related investing. BlackRock Leads $12B Meta Data Center Debt, Buys Aligned
• Neutral Sentiment: BlackRock declared a quarterly dividend of $5.73 per share, which underscores steady cash generation and may attract income-focused investors, but is not a major new growth catalyst. BlackRock Declares Quarterly Dividend of $5.73 on Common Stock
• Negative Sentiment: A law firm announced an investigation into potential securities claims involving BlackRock mutual funds, which could create legal overhang and weigh on sentiment if the probe gains traction. BlackRock Investor News: If You Have Suffered Losses in BlackRock, Inc. Mutual Funds, You Are Encouraged to Contact The Rosen Law Firm About Your Rights

Insider Activity

In other BlackRock news, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the transaction, the president directly owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the sale, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. The trade was a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.92% of the company’s stock.

About BlackRock

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.