TD Waterhouse Canada Inc. Has $15.14 Million Position in BlackRock $BLK

TD Waterhouse Canada Inc. cut its stake in shares of BlackRock (NYSE:BLK) by 4.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,441 shares of the asset manager’s stock after selling 804 shares during the period. TD Waterhouse Canada Inc.’s holdings in BlackRock were worth $15,144,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BLK. RMG Wealth Management LLC acquired a new position in BlackRock in the first quarter worth approximately $25,000. Addison Advisors LLC bought a new stake in BlackRock during the second quarter valued at about $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in BlackRock in the 2nd quarter valued at approximately $25,000. Evolution Wealth Management Inc. bought a new position in BlackRock in the 4th quarter worth approximately $26,000. Finally, Meeder Asset Management Inc. bought a new position in BlackRock in the 2nd quarter worth approximately $30,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,121.85 on Friday. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The firm has a market capitalization of $173.74 billion, a PE ratio of 26.81, a PEG ratio of 1.24 and a beta of 1.41. The business’s 50 day moving average is $1,092.75 and its 200-day moving average is $1,049.39. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33.

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%.BlackRock’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the company posted $12.05 earnings per share. Sell-side analysts predict that BlackRock will post 55.86 earnings per share 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 issued a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s payout ratio is 54.78%.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $454 million in a single day, accounting for most of the $731 million flowing into U.S. spot Bitcoin ETFs. Continued institutional demand could increase BlackRock’s digital-asset assets under management and fee revenue. Bitcoin Spot ETFs See Huge Inflows as BlackRock Takes Lead
• Positive Sentiment: An updated valuation model raised BlackRock’s estimated fair value to $1,320.81 per share from $1,314.44, reinforcing the view that the company’s earnings beat, inflows and margins support additional upside. BlackRock Stock Gets Fair Value Bump
• Positive Sentiment: BlackRock is seeking to allocate roughly 5% to 20% of target-date funds to private assets, potentially opening a large distribution channel for private equity and private credit products. BlackRock Wants Private Assets in Target-Date Funds
• Positive Sentiment: BlackRock’s support for corporate reincorporation in Texas and its broader tokenization expansion through Securitize could strengthen its positioning in business-friendly and digital-finance markets. BlackRock Casts a Vote of Confidence in Texas

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings downgraded shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Bank of America raised their price target on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,311.06.

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.