NewEdge Wealth LLC Buys New Shares in BlackRock $BLK

NewEdge Wealth LLC bought a new position in shares of BlackRock (NYSE:BLK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,135 shares of the asset manager’s stock, valued at approximately $6,860,000.

A number of other large investors have also bought and sold shares of the stock. Evolution Wealth Management Inc. bought a new position in shares of BlackRock during the 4th quarter worth about $26,000. RMG Wealth Management LLC acquired a new position in BlackRock during the 1st quarter worth approximately $25,000. Birchbrook Inc. bought a new position in BlackRock in the fourth quarter worth approximately $31,000. Basepoint Wealth LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $32,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in BlackRock in the fourth quarter valued at approximately $32,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 0.4%

BLK stock opened at $1,159.16 on Thursday. The firm has a market capitalization of $179.52 billion, a PE ratio of 27.70, a P/E/G ratio of 1.30 and a beta of 1.42. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock’s 50 day moving average is $1,062.77 and its 200-day moving average is $1,043.28.

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, topping the consensus estimate of $12.69 by $1.22. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.BlackRock’s revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $12.05 earnings per share. Sell-side analysts expect that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Announces Dividend

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 paid a $5.73 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock’s dividend payout ratio is presently 54.78%.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: U.S. spot Bitcoin ETFs attracted $189.3 million in net inflows Tuesday, bringing August inflows near $951 million. BlackRock’s iShares Bitcoin Trust led with $143.6 million, signaling continued investor demand for one of BlackRock’s fastest-growing product areas. Bitcoin ETFs add $189M as August net inflows approach $1B
• Positive Sentiment: BlackRock reiterated that Bitcoin remains a viable diversification asset after its sharp selloff and said a 1%–2% allocation could improve risk-adjusted returns in a traditional portfolio. The supportive stance may help sustain interest in BlackRock’s crypto offerings. Bitcoin has largely purged froth, BlackRock says
• Positive Sentiment: BlackRock disclosed a roughly $3.45 billion stake in Biogen, whose shares reached a 52-week high after an earnings beat and upgraded outlook. The investment highlights the scale of BlackRock’s asset-management platform, though gains primarily accrue to fund investors rather than directly to BLK earnings. Biogen stock surges after BlackRock investment
• Neutral Sentiment: BlackRock Canada announced monthly cash distributions for numerous iShares ETFs, with payments scheduled for August 31 to investors of record on August 26. The announcement supports product visibility and investor engagement but does not materially change BlackRock’s earnings outlook. BlackRock Canada announces August cash distributions
• Neutral Sentiment: BlackRock’s HPS private-credit unit was reported among creditors taking over MBS Group alongside Oaktree Capital. The development may demonstrate private-credit activity, while also highlighting potential credit and workout risks. BlackRock’s HPS among creditors taking over MBS Group
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have provided materially misleading business information. The announcement is not a finding of wrongdoing, but could create legal costs, reputational risk and investor uncertainty. Rosen Law Firm investigates BlackRock mutual funds

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BLK shares. Keefe, Bruyette & Woods lowered BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. Evercore restated an “outperform” rating and set a $1,260.00 price target on shares of BlackRock in a research note on Monday, August 10th. BMO Capital Markets upped their price objective on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Morgan Stanley raised their price objective on shares of BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $1,311.06.

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.