Denali Advisors LLC Buys Shares of 2,830 BlackRock $BLK

Denali Advisors LLC bought a new stake in BlackRock (NYSE:BLK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,830 shares of the asset manager’s stock, valued at approximately $2,721,000.

Several other hedge funds have also modified their holdings of BLK. Vanguard Group Inc. grew its holdings in BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after purchasing an additional 221,123 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of BlackRock during the 2nd quarter valued at $9,747,857,000. State Street Corp boosted its position in shares of BlackRock by 0.5% in the 4th quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of BlackRock by 5,190.3% in the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its stake in BlackRock by 4.7% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock worth $5,126,387,000 after buying an additional 237,667 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BLK. Barclays increased their price target on BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. UBS Group boosted their price target on BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,258.00 price objective 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 price objective on shares of BlackRock in a research report on Thursday, July 16th. Finally, 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. 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 MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $1,311.06.

Trending Headlines about BlackRock

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

BlackRock Stock Up 0.4%

BlackRock stock opened at $1,159.16 on Thursday. 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 business’s 50-day simple moving average is $1,062.77 and its two-hundred day simple moving average is $1,043.28. The company has a market cap of $179.52 billion, a PE ratio of 27.70, a PEG ratio of 1.30 and a beta of 1.42. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the business posted $12.05 earnings per share. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. Equities analysts anticipate 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. Shareholders of record on Tuesday, September 8th will be given a dividend of $5.73 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock’s dividend payout ratio (DPR) is currently 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.