BlackRock $BLK Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in BlackRock (NYSE:BLK) by 36.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,221 shares of the asset manager’s stock after selling 4,092 shares during the period. Pacer Advisors Inc.’s holdings in BlackRock were worth $6,945,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BLK. Brighton Jones LLC grew its position in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after acquiring an additional 296 shares in the last quarter. Bison Wealth LLC grew its position in shares of BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after buying an additional 17 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in BlackRock during the second quarter worth about $259,000. Nebula Research & Development LLC bought a new position in BlackRock in the second quarter worth about $548,000. Finally, Osterweis Capital Management Inc. bought a new position in BlackRock in the second quarter worth about $98,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 0.1%

BlackRock stock opened at $1,132.49 on Thursday. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The stock has a market capitalization of $175.52 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.42. The firm has a 50 day simple moving average of $1,035.50 and a 200-day simple moving average of $1,041.79.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS 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 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 company earned $12.05 earnings per share. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced 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 2.0%. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. 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 research report on Thursday, July 16th. 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 note on Thursday, July 16th. Barclays upped their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Jefferies Financial Group reduced their target price on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, UBS Group raised their price target on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $1,304.29.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock expanded its digital-asset product lineup with a fund designed to generate income while investors wait through Bitcoin’s downturn. The launch could broaden demand beyond simple Bitcoin exposure and create additional fee opportunities. Bitcoin Is Down 44%, and BlackRock Just Launched a Fund That Pays You to Wait
• Positive Sentiment: BlackRock launched tokenized money-market products for stablecoin reserve management and is bringing selected European funds onto JPMorgan’s Kinexys blockchain. The products invest in cash, Treasuries and repurchase agreements, potentially opening new distribution channels and strengthening BlackRock’s position in institutional blockchain finance. BlackRock brings tokenized money market funds to Europe via JPMorgan
• Positive Sentiment: S&P Global Ratings assigned an “AAAm” principal-stability rating to BlackRock’s Daily Reinvestment Stablecoin Reserve Vehicle, citing portfolio quality, counterparties, maturity structure and risk controls. The endorsement may improve institutional confidence in the new offering. S&P gives BlackRock tokenized reserve fund top stability rating
• Positive Sentiment: Analysts highlighted BLK among investment-management stocks positioned to benefit from continued asset inflows and digital transformation. BlackRock’s recent earnings beat, including stronger-than-expected revenue and earnings growth, provides additional fundamental support.
• Positive Sentiment: BlackRock will serve as a validator for Circle’s Arc blockchain, alongside Visa, Mastercard, DTCC and Standard Chartered, and plans to deploy its BUIDL fund on the network. This could accelerate adoption of BlackRock’s tokenized funds. Blueprint for a Banking Fortress: Circle Redraws the Map

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.