Elevation Point Wealth Partners LLC Invests $6.93 Million in BlackRock $BLK

Elevation Point Wealth Partners LLC acquired a new stake in BlackRock (NYSE:BLK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,203 shares of the asset manager’s stock, valued at approximately $6,926,000.

Several other hedge funds have also recently bought and sold shares of the company. Oakworth Capital Inc. boosted its holdings in BlackRock by 1.2% during the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock valued at $808,000 after acquiring an additional 9 shares during the period. McIlrath & Eck LLC increased its stake in BlackRock by 5.0% during the fourth quarter. McIlrath & Eck LLC now owns 212 shares of the asset manager’s stock worth $227,000 after purchasing an additional 10 shares during the period. Manske Wealth Management lifted its position in shares of BlackRock by 3.0% during the fourth quarter. Manske Wealth Management now owns 345 shares of the asset manager’s stock worth $369,000 after purchasing an additional 10 shares in the last quarter. Gibson Capital LLC boosted its stake in shares of BlackRock by 3.4% in the fourth quarter. Gibson Capital LLC now owns 308 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 10 shares during the period. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of BlackRock by 4.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BLK shares. JPMorgan Chase & Co. raised shares of BlackRock from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. BNP Paribas Exane raised their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Morgan Stanley boosted their price target on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Barclays increased their price objective 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. Finally, Keefe, Bruyette & Woods lowered BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $1,311.06.

BlackRock Stock Up 1.5%

Shares of BlackRock stock opened at $1,157.28 on Friday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The company has a 50 day moving average of $1,067.74 and a 200 day moving average of $1,044.23. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $179.23 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.30 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 EPS for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the business posted $12.05 EPS. The firm’s revenue was up 30.6% on a year-over-year basis. As a group, research analysts forecast that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Announces Dividend

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

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Bitcoin ETF demand could support fee revenue. BlackRock’s iShares Bitcoin Trust led recent U.S. spot Bitcoin ETF inflows, including $284.7 million in one session and $588.5 million over three days. Continued cryptocurrency demand could increase assets under management and fee income. Bitcoin ETF Inflows Hit $517M While BTC Tests Key Resistance
• Positive Sentiment: Dividend appeal is drawing investor attention. A recent analysis describes BlackRock as an attractive dividend stock, reinforcing the company’s appeal to income-oriented investors after its latest quarter exceeded expectations on both earnings and revenue. Why BlackRock Is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock continues deploying capital and expanding alternative-asset exposure. The firm and Oaktree seized debt-laden movie servicer MBS, highlighting potential opportunities in distressed and private credit markets, though such investments also carry execution risk. BlackRock, Oaktree Seize Debt-Laden Movie Servicer MBS
• Neutral Sentiment: Large Qiagen stake creates potential strategic upside but adds concentration risk. Dutch regulatory filings show BlackRock owns roughly 11.5% of Qiagen’s capital and more than 12% of its voting rights. The holding demonstrates significant investment activity, but the filings do not indicate a change in BlackRock’s operating outlook. BlackRock Reveals Stake in Qiagen
• Negative Sentiment: A law firm’s investigation remains an overhang. Rosen Law Firm is seeking investors who may have suffered losses in BlackRock mutual funds amid allegations that business information was materially misleading. This is only an investigation announcement, not a finding of wrongdoing, but it could create reputational and legal risk. BlackRock Investor News

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.