3,352 Shares in BlackRock $BLK Bought by Red Spruce Capital LLC

Red Spruce Capital LLC bought a new stake in shares of BlackRock (NYSE:BLK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,352 shares of the asset manager’s stock, valued at approximately $3,223,000.

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

More BlackRock News

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

Analyst Upgrades and Downgrades

BLK has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised shares of BlackRock from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Evercore reissued an “outperform” rating and set a $1,145.00 price target on shares of BlackRock in a report on Friday, July 10th. Finally, Bank of America upped their price objective on BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $1,304.29.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,128.98 on Friday. The firm has a market cap of $174.98 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.28 and a beta of 1.42. The firm has a fifty day moving average price of $1,037.16 and a 200 day moving average price of $1,041.54. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09.

BlackRock (NYSE:BLK) last announced its quarterly earnings results 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 company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. BlackRock’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.05 EPS. As a group, sell-side analysts expect that BlackRock will post 55.63 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

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.