Red Spruce Capital LLC Invests $3.22 Million in BlackRock $BLK

Red Spruce Capital LLC purchased a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,352 shares of the asset manager’s stock, valued at approximately $3,223,000.

Several other hedge funds have also bought and sold shares of the business. RMG Wealth Management LLC purchased a new position in shares of BlackRock during the first quarter valued at approximately $25,000. Evolution Wealth Management Inc. purchased a new stake in shares of BlackRock in the 4th quarter worth approximately $26,000. Birchbrook Inc. bought a new position in BlackRock during the 4th quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA bought a new stake in BlackRock in the fourth quarter worth $32,000. Finally, Basepoint Wealth LLC purchased a new stake in shares of BlackRock in the fourth quarter worth $32,000. Institutional investors own 80.69% of the company’s stock.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is promoting model portfolios as a way to bring private-market funds to affluent individual investors. Wider distribution could increase fee-generating assets and strengthen BlackRock’s position in alternatives. Wall Street touts outsourced allocation ploy in bid to market private funds to individuals
• Positive Sentiment: BlackRock is expanding blockchain-based products, including tokenized European money-market funds through JPMorgan’s Kinexys platform. The initiative supports long-term growth in digital assets and institutional liquidity products. BlackRock brings tokenized money market funds to Europe via JPMorgan
• Positive Sentiment: BlackRock is among the validators for Circle’s planned Arc blockchain and intends to deploy its BUIDL digital liquidity fund on the network. The relationship could help accelerate adoption of tokenized securities and reinforce BlackRock’s digital-asset leadership. Blueprint for a Banking Fortress: Circle Redraws the Map
• Neutral Sentiment: BlackRock will conduct a one-for-three reverse split of its iShares Ethereum Trust ETF (ETHA). The action raises the per-share price but does not change investors’ proportional ownership or the fund’s underlying value. BlackRock’s Ethereum ETF To Undergo 1-For-3 Reverse Split
• Negative Sentiment: BlackRock TCP Capital Corp. (NASDAQ: TCPC), an affiliated business-development company, is transferring approximately $523 million of loans—nearly half of its debt investments—to a Pantheon-backed fund while cutting leverage and reviewing strategic options. The move may reduce risk, but the scale of the restructuring highlights stress in private credit and could weigh on sentiment toward BlackRock’s alternatives platform. BlackRock Offloads $523 Million in Loans to Rescue Troubled Private Credit Fund

BlackRock Price Performance

BLK opened at $1,128.98 on Friday. The company’s 50-day simple moving average is $1,037.16 and its two-hundred day simple moving average is $1,041.54. 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 stock has a market capitalization of $174.98 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.28 and a beta of 1.42. 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 EPS for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The business’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the previous year, the business posted $12.05 earnings per share. As a group, analysts predict that BlackRock will post 55.63 EPS for the current 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 $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 dividend payout ratio (DPR) is presently 54.78%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BLK. Weiss Ratings upgraded BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,258.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a report on Thursday, July 16th. Morgan Stanley upped 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 note on Thursday, July 16th. Finally, JPMorgan Chase & Co. raised shares of BlackRock from a “neutral” rating to an “overweight” rating and raised their price target for the company from $1,165.00 to $1,364.00 in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $1,304.29.

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.