Royal Bank of Canada Has $639.74 Million Stock Holdings in BlackRock $BLK

Royal Bank of Canada reduced its position in shares of BlackRock (NYSE:BLK) by 46.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 665,214 shares of the asset manager’s stock after selling 567,531 shares during the period. Royal Bank of Canada owned approximately 0.43% of BlackRock worth $639,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BLK. Empowered Funds LLC raised its stake in BlackRock by 11.8% during the first quarter. Empowered Funds LLC now owns 10,825 shares of the asset manager’s stock worth $10,411,000 after acquiring an additional 1,146 shares in the last quarter. Evelyn Partners Investment Management LLP lifted its stake in shares of BlackRock by 6.2% in the 1st quarter. Evelyn Partners Investment Management LLP now owns 1,007 shares of the asset manager’s stock valued at $968,000 after acquiring an additional 59 shares during the last quarter. Evelyn Partners Investment Management Services Ltd boosted its holdings in shares of BlackRock by 6.6% during the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 907 shares of the asset manager’s stock valued at $872,000 after acquiring an additional 56 shares in the last quarter. Quantinno Capital Management LP grew its position in BlackRock by 13.9% during the 1st quarter. Quantinno Capital Management LP now owns 73,830 shares of the asset manager’s stock worth $71,003,000 after acquiring an additional 8,988 shares during the last quarter. Finally, Family Manage LLC increased its holdings in BlackRock by 32.5% in the 1st quarter. Family Manage LLC now owns 277 shares of the asset manager’s stock worth $266,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings raised BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $1,275.00 to $1,300.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. UBS Group boosted their target price on shares of BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. upgraded shares of BlackRock from a “neutral” rating to an “overweight” rating and upped their price target for the company from $1,165.00 to $1,364.00 in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,258.00 price target 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 issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $1,304.29.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Major AI infrastructure partnership: BlackRock and Meta Platforms formed an approximately $14 billion venture to develop and operate a one-gigawatt data center campus in El Paso, Texas. BlackRock-managed funds will own 80%, while Meta retains 20% and will operate the facility, which is expected to come online in 2028. The deal highlights BlackRock’s opportunity to earn investment-management and infrastructure-related fees from the multiyear AI buildout. Meta, BlackRock partner on $14 billion El Paso data center
• Positive Sentiment: Strong financing demand: BlackRock reportedly arranged roughly $12.3 billion in senior secured bonds for the project, with the debt rallying before pricing. The successful financing supports the view that BlackRock can scale its Global Infrastructure Partners and HPS platforms while channeling institutional capital into digital infrastructure. BlackRock Dodges AI Bond Flop as $12.3 Billion Debt Deal Rallies
• Positive Sentiment: ETF and crypto-related momentum: BlackRock’s systematic-alternatives ETF reportedly attracted significant inflows, while the firm’s crypto portfolio gained nearly $5 billion in July. These developments reinforce the company’s ability to capture demand across newer investment products, although crypto-related gains may be volatile. BlackRock Stuffed a Hedge Fund Inside an ETF
• Neutral Sentiment: BlackRock’s latest quarterly results showed substantial earnings and revenue beats, with revenue up 30.6% year over year, but analysts noted that the stock may already reflect much of the company’s record inflow and earnings strength. BlackRock Stock Could Be Fully Priced Following Record Inflows
• Negative Sentiment: U.S. spot Bitcoin ETFs experienced renewed outflows late last week, led by BlackRock’s iShares Bitcoin Trust. Continued weakness could reduce fee revenue and weigh on sentiment toward the firm’s crypto franchise. Bitcoin ETFs End Inflow Streak as Fed Rate Concerns Mount

BlackRock Price Performance

Shares of NYSE BLK opened at $1,099.21 on Wednesday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $170.37 billion, a PE ratio of 26.27, a P/E/G ratio of 1.20 and a beta of 1.43. The firm has a fifty day simple moving average of $1,030.24 and a 200 day simple moving average of $1,041.31. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the business earned $12.05 EPS. The firm’s revenue was up 30.6% compared to the same quarter last year. On average, sell-side analysts forecast 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. Stockholders 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 54.78%.

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.