Perigon Wealth Management LLC Buys New Stake in BlackRock $BLK

Perigon Wealth Management LLC bought a new stake in shares of BlackRock (NYSE:BLK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,704 shares of the asset manager’s stock, valued at approximately $2,600,000.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. RMG Wealth Management LLC bought a new stake in shares of BlackRock during the first quarter valued at about $25,000. Evolution Wealth Management Inc. acquired a new stake in shares of BlackRock in the fourth quarter valued at $26,000. Birchbrook Inc. bought a new position in BlackRock during the fourth quarter valued at about $31,000. LFA Lugano Financial Advisors SA acquired a new position in BlackRock during the fourth quarter worth about $32,000. Finally, Basepoint Wealth LLC bought a new stake in BlackRock in the fourth quarter worth about $32,000. Institutional investors own 80.69% of the company’s stock.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Technical momentum remains favorable. BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross,” which technical analysts view as a bullish signal. After Golden Cross, BlackRock Technical Outlook Is Bright
• Positive Sentiment: Income-investor appeal remains intact. BlackRock is highlighted among dividend-paying financial stocks with favorable analyst ratings and potential price-target upside, which could support demand from yield-focused investors. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Positive Sentiment: Bitcoin ETF demand is a modest supportive factor. Tudor Investment reportedly increased its position in BlackRock’s spot Bitcoin ETF to $22.9 million, reinforcing institutional interest in the product and potentially supporting fee-related asset growth. Tudor Investment Boosts Bitcoin ETF Holdings
• Neutral Sentiment: Valuation comparisons offer no decisive catalyst. A Zacks comparison of BlackRock and Affiliated Managers Group examines which asset manager provides better value, but the article does not establish a clear near-term reason for investors to favor BLK. AMG vs. BLK: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Insurance and financing risks are the main overhang. A roughly $14 billion Texas data-center campus owned by Meta and BlackRock may be significantly underinsured against catastrophic events because insurers are reluctant to provide full coverage. The potential for large uncovered losses could increase lender and investment risk concerns, likely contributing to pressure on BLK. Meta and BlackRock’s Data Centre Exposes Lenders to Insurance Gap

BlackRock Trading Down 2.1%

BlackRock stock opened at $1,148.91 on Tuesday. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market capitalization of $177.93 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 1.32 and a beta of 1.42. The company has a 50 day moving average price of $1,056.94 and a 200 day moving average price of $1,042.81.

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, beating the consensus estimate of $12.69 by $1.22. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company’s revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the business earned $12.05 EPS. Research analysts forecast that BlackRock will post 55.63 EPS for the current year.

BlackRock Dividend Announcement

The business also recently declared 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. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.

Analyst Ratings Changes

A number of brokerages have weighed in on BLK. Zacks Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. BNP Paribas Exane boosted their target price 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. BMO Capital Markets raised their target price 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. Weiss Ratings lowered shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $1,311.06.

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.