M. Kulyk & Associates LLC Takes $7.15 Million Position in BlackRock $BLK

M. Kulyk & Associates LLC acquired a new position in shares of BlackRock (NYSE:BLK) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 7,432 shares of the asset manager’s stock, valued at approximately $7,146,000.

Several other hedge funds have also modified their holdings of BLK. Evolution Wealth Management Inc. acquired a new position in BlackRock during the fourth quarter worth approximately $26,000. RMG Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $25,000. Birchbrook Inc. acquired a new position in shares of BlackRock in the 4th quarter valued at $31,000. Basepoint Wealth LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at $32,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of BlackRock during the 4th quarter valued at $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLK. Zacks Research raised BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Morgan Stanley boosted their price target on BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Bank of America upped their price target on BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings downgraded BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets lifted their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $1,311.06.

BlackRock Stock Performance

Shares of BLK stock opened at $1,155.78 on Wednesday. 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 has a market cap of $179.00 billion, a PE ratio of 27.62, a P/E/G ratio of 1.32 and a beta of 1.42. The company’s fifty day simple moving average is $1,059.83 and its 200-day simple moving average is $1,043.05. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the prior year, the company earned $12.05 EPS. The firm’s revenue was up 30.6% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock will post 55.63 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be paid a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s payout ratio is currently 54.78%.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin’s Investment Case Hasn’t Changed, BlackRock Says
• Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
• Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
• Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
• Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk

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.