BlackRock $BLK Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its position in BlackRock (NYSE:BLK) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,807 shares of the asset manager’s stock after selling 456 shares during the period. NewEdge Advisors LLC’s holdings in BlackRock were worth $69,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Nebraska Trust Co acquired a new stake in shares of BlackRock during the first quarter worth $295,000. Financial Solutions Advisory Group Inc. purchased a new position in BlackRock during the first quarter worth about $230,000. Blue Fin Capital Inc. lifted its position in BlackRock by 3.0% during the first quarter. Blue Fin Capital Inc. now owns 4,273 shares of the asset manager’s stock worth $4,110,000 after buying an additional 125 shares during the period. Summitry LLC boosted its stake in BlackRock by 3,622.1% in the 1st quarter. Summitry LLC now owns 22,705 shares of the asset manager’s stock worth $21,836,000 after buying an additional 22,095 shares during the last quarter. Finally, WNY Asset Management LLC acquired a new stake in BlackRock in the 1st quarter worth about $231,000. 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

BlackRock Stock Down 0.4%

Shares of NYSE:BLK opened at $1,128.98 on Friday. The stock has a 50-day simple moving average of $1,037.16 and a 200-day simple moving average of $1,041.54. The stock has a market capitalization of $174.98 billion, a P/E ratio of 26.98, a PEG ratio of 1.28 and a beta of 1.42. BlackRock has a 1 year low of $917.39 and a 1 year 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 posted its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the firm posted $12.05 earnings per share. BlackRock’s revenue for the quarter was up 30.6% compared to the same quarter last year. Equities analysts forecast that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a dividend of $5.73 per share. The ex-dividend date 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 Analyst Weigh In

Several analysts have commented on BLK shares. Barclays lifted their price target on BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. TD Cowen decreased their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Zacks Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $1,275.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, UBS Group boosted their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Buy” and an average price target of $1,304.29.

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.