Glenmede Trust Co. NA reduced its stake in BlackRock (NYSE:BLK – Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,696 shares of the asset manager’s stock after selling 1,115 shares during the period. Glenmede Trust Co. NA’s holdings in BlackRock were worth $73,759,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc grew its position in BlackRock by 0.8% in the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after purchasing an additional 7,457 shares during the period. TCV Trust & Wealth Management Inc. bought a new stake in BlackRock during the 4th quarter valued at $20,279,000. Texas Yale Capital Corp. raised its holdings in BlackRock by 32.2% during the fourth quarter. Texas Yale Capital Corp. now owns 5,764 shares of the asset manager’s stock worth $6,169,000 after buying an additional 1,405 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of BlackRock by 94.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,828 shares of the asset manager’s stock valued at $28,720,000 after buying an additional 13,040 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of BlackRock by 0.3% in the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock valued at $4,108,968,000 after buying an additional 12,019 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on BLK. Morgan Stanley boosted their target price on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. 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 report on Thursday, July 16th. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. The Goldman Sachs Group reissued a “buy” rating and set a $1,389.00 price objective on shares of BlackRock in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,258.00 price objective on shares of BlackRock 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $1,304.29.
BlackRock Stock Performance
NYSE BLK opened at $1,093.47 on Friday. The company has a fifty day moving average price of $1,032.03 and a 200-day moving average price of $1,041.73. The firm has a market cap of $169.48 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results 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 company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the firm earned $12.05 earnings per share. The firm’s revenue was up 30.6% on a year-over-year basis. As a group, equities research analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.
BlackRock Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given 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 dividend yield of 2.1%. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.
More BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: Demand for BlackRock’s crypto products remains strong. Its iShares Bitcoin Trust (IBIT) attracted approximately $183 million of new inflows on July 30, contributing to $233 million in total spot Bitcoin ETF inflows. Continued ETF demand could support fee revenue and assets under management. Spot Bitcoin ETFs Attract $233M in Fresh Inflows as BlackRock’s IBIT Leads Demand
- Positive Sentiment: Stripe’s blockchain, Tempo, integrated BlackRock’s BUIDL tokenized Treasury fund, expanding institutional access to the product and reinforcing BlackRock’s leadership in tokenized assets. Tempo Brings BlackRock’s BUIDL to Businesses in New Treasury Partnership
- Positive Sentiment: BlackRock was identified alongside Fidelity and Goldman Sachs as a major TradFi supporter of the CLARITY Act, potentially improving regulatory clarity for digital assets if the legislation advances. Could Wisconsin strip your voting rights for using prediction markets?
- Neutral Sentiment: Analysts highlighted three BlackRock mutual funds with top Zacks rankings, but the article is promotional and does not represent new company fundamentals or a material change in investor demand. 3 BlackRock Mutual Funds to Grab Now for Superior Returns
- Negative Sentiment: Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging misleading business information. The announcement does not establish wrongdoing, but it creates headline and litigation risk. Rosen Investor Investigation
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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