Trust Co. of Vermont Buys New Stake in BlackRock $BLK

Trust Co. of Vermont purchased a new position in shares of BlackRock (NYSE:BLK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,677 shares of the asset manager’s stock, valued at approximately $26,613,000. BlackRock makes up 1.0% of Trust Co. of Vermont’s holdings, making the stock its 22nd largest holding.

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

BlackRock Price Performance

BLK stock opened at $1,148.91 on Tuesday. The company has a market cap of $177.93 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $1,056.94 and a two-hundred day moving average price of $1,042.81. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.90% and a net margin of 24.09%.The company’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period last year, the business posted $12.05 EPS. As a group, research analysts predict that BlackRock will post 55.63 EPS for the current year.

BlackRock Announces Dividend

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

BlackRock News Summary

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

Wall Street Analyst Weigh In

BLK has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. BMO Capital Markets lifted their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. BNP Paribas Exane boosted their price target 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 note on Monday, August 10th. Finally, Morgan Stanley raised their price objective on BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Buy” and an average price target 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.