Papamarkou Wellner Asset Management inc. Acquires New Position in BlackRock $BLK

Papamarkou Wellner Asset Management inc. bought a new position in BlackRock (NYSE:BLK) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,207 shares of the asset manager’s stock, valued at approximately $2,122,000. BlackRock comprises approximately 0.5% of Papamarkou Wellner Asset Management inc.’s holdings, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of BLK. Brighton Jones LLC raised 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 stake in BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 17 shares during the period. Schnieders Capital Management LLC. bought a new position in BlackRock in the second quarter worth $259,000. Nebula Research & Development LLC bought a new position in BlackRock in the second quarter worth $548,000. Finally, Osterweis Capital Management Inc. purchased a new position in BlackRock during the second quarter valued at $98,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s newer income-focused ETF is reportedly up 19% this year, compared with 10% for JPMorgan’s JEPQ, while charging the same fee. Strong relative performance could support additional iShares inflows and fee revenue. BlackRock ETF outperformance article
• Positive Sentiment: BlackRock continues to highlight Bitcoin’s role as “digital gold” and a hedge against rising U.S. debt and deficits. Management also sees continued strength in Bitcoin, supporting the long-term case for cryptocurrency-related assets under management. BlackRock Bitcoin hedge case article
• Positive Sentiment: Adroit Trading Technologies is integrating its cross-asset execution tools with BlackRock’s Aladdin platform. The partnership may improve Aladdin’s functionality, client retention and potential technology-related revenue. Aladdin integration article
• Positive Sentiment: BlackRock’s crypto portfolio reportedly gained more than $15 billion during August as Bitcoin and Ethereum rallied. The firm is also participating in an Nvidia-led effort tied to AI infrastructure, broadening potential future growth avenues beyond traditional asset management. BlackRock crypto and AI strategy article

BlackRock Stock Down 0.5%

Shares of BLK opened at $1,167.69 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market capitalization of $180.84 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The business’s 50 day simple moving average is $1,077.50 and its 200-day simple moving average is $1,046.77.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period last year, the company posted $12.05 earnings per share. As a group, equities analysts expect that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s payout ratio is presently 54.78%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLK. The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a report on Thursday, July 16th. Barclays increased their price target on BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,258.00 price target on shares of BlackRock in a research note on Thursday, July 16th. BNP Paribas Exane upped their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Finally, BMO Capital Markets increased their target price on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,311.06.

BlackRock Company 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.