1,271 Shares in BlackRock $BLK Bought by Transamerica Financial Advisors LLC

Transamerica Financial Advisors LLC acquired a new stake in BlackRock (NYSE:BLK) in the second quarter, Holdings Channel reports. The firm acquired 1,271 shares of the asset manager’s stock, valued at approximately $1,223,000.

Other large investors have also bought and sold shares of the company. McIlrath & Eck LLC increased its stake in shares of BlackRock by 5.0% in the fourth quarter. McIlrath & Eck LLC now owns 212 shares of the asset manager’s stock valued at $227,000 after buying an additional 10 shares during the period. Manske Wealth Management boosted its holdings in BlackRock by 3.0% in the fourth quarter. Manske Wealth Management now owns 345 shares of the asset manager’s stock valued at $369,000 after acquiring an additional 10 shares during the last quarter. Gibson Capital LLC boosted its holdings in BlackRock by 3.4% in the fourth quarter. Gibson Capital LLC now owns 308 shares of the asset manager’s stock valued at $330,000 after acquiring an additional 10 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in BlackRock by 4.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 10 shares during the period. Finally, Great Diamond Partners LLC raised its holdings in BlackRock by 0.4% during the 4th quarter. Great Diamond Partners LLC now owns 2,791 shares of the asset manager’s stock worth $2,987,000 after purchasing an additional 10 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.2%

Shares of NYSE BLK opened at $1,174.17 on Thursday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $1,075.18 and its 200 day simple moving average is $1,045.98. The firm has a market cap of $181.84 billion, a PE ratio of 28.06, a P/E/G ratio of 1.30 and a beta of 1.42. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94.

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

BlackRock Dividend Announcement

The firm also recently announced 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 2.0%. BlackRock’s payout ratio is presently 54.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BLK shares. The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Morgan Stanley lifted 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. Zacks Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. BNP Paribas Exane upped their price target on shares of 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, Weiss Ratings downgraded BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $1,311.06.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) has processed more than $5 billion in tax-deferred conversions from directly held Bitcoin. Reducing the minimum conversion size from $25 million to $1 million could make the product accessible to more wealthy investors and institutions, potentially supporting assets under management and fee revenue. However, these transactions transfer existing Bitcoin into the ETF rather than representing equivalent new cash inflows. Bitcoin to $100K? BlackRock’s $5B ETF Shift Pulls More BTC Into Wall Street
• Positive Sentiment: Wall Street analysts remain broadly optimistic about BlackRock’s growth prospects and target price, despite the shares’ strong multiyear advance. What Are Wall Street Analysts’ Target Price for BlackRock Stock?
• Neutral Sentiment: BlackRock named Jessica Tan to lead its global product unit, a management change that could influence future product development and distribution but whose financial impact is not yet clear. BlackRock names Jessica Tan to head global product unit
• Neutral Sentiment: The company announced final August cash distributions for the iShares Premium Money Market ETF. The announcement is routine and primarily affects fund investors rather than BlackRock’s corporate earnings. BlackRock Canada Announces Final August Cash Distributions
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have issued materially misleading business information. The announcement does not establish wrongdoing, but it introduces potential legal, reputational and financial risk. BlackRock Investor News: Rosen Law Firm Investigation
• Negative Sentiment: One valuation review says BlackRock now trades near fair value on intrinsic estimates and looks expensive on earnings multiples after an approximately 82% three-year return, limiting near-term upside unless earnings and fee growth accelerate. BlackRock Stock Looks Fully Valued After an 82% Run

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.