Evercore Wealth Management LLC Has $102.11 Million Position in BlackRock $BLK

Evercore Wealth Management LLC trimmed its holdings in BlackRock (NYSE:BLK) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,170 shares of the asset manager’s stock after selling 2,397 shares during the period. BlackRock comprises about 1.6% of Evercore Wealth Management LLC’s holdings, making the stock its 20th largest position. Evercore Wealth Management LLC owned approximately 0.07% of BlackRock worth $102,105,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BLK. Vanguard Group Inc. boosted its stake in BlackRock by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after purchasing an additional 221,123 shares during the last quarter. State Street Corp raised its stake in shares of BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Temasek Holdings Private Ltd boosted its position in shares of BlackRock by 4.7% during the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after buying an additional 237,667 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in BlackRock by 3.0% during the fourth quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock worth $5,563,524,000 after buying an additional 149,902 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK stock opened at $1,061.60 on Tuesday. The company has a market capitalization of $164.54 billion, a P/E ratio of 25.37, a PEG ratio of 1.19 and a beta of 1.43. 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 50 day moving average price of $1,029.00 and a two-hundred day moving average price of $1,041.14. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94.

BlackRock (NYSE:BLK) last released 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. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $12.05 earnings per share. Analysts expect that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $1,275.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. BNP Paribas Exane upped their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Zacks Research raised BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised shares of BlackRock from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. Finally, UBS Group upped their target price on BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $1,304.29.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Analyst support points to a potential rebound. JPMorgan and Morgan Stanley reportedly encouraged clients to buy BlackRock, suggesting confidence that the stock’s valuation and post-earnings weakness offer further upside. Why Two BlackRock Competitors Told Clients to Buy It
• Positive Sentiment: BlackRock is backing a $15 million Bitcoin security initiative. The company joined eight other firms in the Bitcoin Security Consortium, highlighting its commitment to cryptocurrency infrastructure and potentially strengthening its long-term digital-asset positioning. Wall Street giants back $15M push to quantum-proof Bitcoin
• Positive Sentiment: Its Nasdaq-100 ETF challenger is attracting inflows. BlackRock’s iShares Nasdaq-100 ETF is gaining assets, supporting fee revenue and distribution scale, even though Invesco’s QQQ remains much larger. BlackRock’s Nasdaq ETF Challenger Is Growing
• Positive Sentiment: BlackRock continues to broaden its low-cost ETF lineup. A lower-fee emerging-markets ETF could attract price-sensitive investors and increase assets under management over time, though it may pressure fees on older products. iShares Sells Nearly the Same Emerging Markets for 87% Less
• Neutral Sentiment: BlackRock Canada announced final July cash distributions for the iShares Premium Money Market ETF. The distribution is routine and primarily affects fund unitholders rather than BlackRock’s corporate earnings. BlackRock Canada Announces Final July Cash Distributions
• Negative Sentiment: Bitcoin ETF redemptions are a near-term headwind. U.S. spot Bitcoin ETFs experienced roughly $465 million to $475 million in two-day outflows, with BlackRock’s iShares Bitcoin Trust reportedly leading withdrawals. Continued redemptions could reduce fee revenue and weaken sentiment toward BlackRock’s crypto franchise. Bitcoin ETF Selloff Deepens
• Negative Sentiment: A law firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging materially misleading business information. The announcement is a solicitation and does not establish wrongdoing, but it adds headline and litigation risk. BlackRock Investor News

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.