13,768 Shares in BlackRock $BLK Bought by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab bought a new position in shares of BlackRock (NYSE:BLK) during the second quarter, HoldingsChannel.com reports. The firm bought 13,768 shares of the asset manager’s stock, valued at approximately $13,239,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of BlackRock by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after buying an additional 221,123 shares in the last quarter. BlackRock Inc. purchased a new position in BlackRock during the 2nd quarter valued at about $9,747,857,000. State Street Corp raised its position in BlackRock by 0.5% during the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after acquiring an additional 33,752 shares during the last quarter. Corient Private Wealth LLC raised its position in BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after acquiring an additional 5,386,640 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of BlackRock by 4.7% in 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 purchasing an additional 237,667 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the topic of several research reports. Zacks Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. BMO Capital Markets upped their target price on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. BNP Paribas Exane increased their target price on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Evercore reissued an “outperform” rating and set a $1,260.00 price target on shares of BlackRock in a research report on Monday, August 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Buy” and an average target price of $1,311.06.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin’s Investment Case Hasn’t Changed, BlackRock Says
• Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
• Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
• Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
• Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk

BlackRock Stock Performance

NYSE:BLK opened at $1,155.78 on Wednesday. The firm has a 50 day simple moving average of $1,059.83 and a 200-day simple moving average of $1,043.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market cap of $179.00 billion, a PE ratio of 27.62, a P/E/G ratio of 1.32 and a beta of 1.42. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock’s revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the business earned $12.05 earnings per share. On average, equities analysts expect that BlackRock will post 55.63 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be paid a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s dividend payout ratio is currently 54.78%.

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.