Meeder Advisory Services Inc. Takes $3.98 Million Position in BlackRock $BLK

Meeder Advisory Services Inc. acquired a new position in BlackRock (NYSE:BLK) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,135 shares of the asset manager’s stock, valued at approximately $3,976,000.

Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares during the period. Bison Wealth LLC grew its stake in shares of BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 17 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of BlackRock during the 2nd quarter worth $259,000. Nebula Research & Development LLC acquired a new stake in shares of BlackRock during the second quarter worth $548,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of BlackRock during the second quarter valued at $98,000. 80.69% of the stock is currently owned by institutional investors.

Key BlackRock News

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,258.00 target price on shares of BlackRock in a report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a research report on Thursday, July 16th. 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. BNP Paribas Exane increased their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, UBS Group lifted their target price on BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research note 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Buy” and a consensus target price of $1,311.06.

BlackRock Trading Up 0.8%

Shares of NYSE:BLK opened at $1,155.78 on Wednesday. The firm has a fifty day moving average of $1,059.83 and a two-hundred day moving average of $1,043.05. 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 12-month low of $917.39 and a 12-month high of $1,219.94. The firm has a market capitalization of $179.00 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42.

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

BlackRock Dividend Announcement

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

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.