Engineers Gate Manager LP Acquires 2,165 Shares of BlackRock $BLK

Engineers Gate Manager LP grew its holdings in BlackRock (NYSE:BLK) by 34.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,415 shares of the asset manager’s stock after acquiring an additional 2,165 shares during the period. Engineers Gate Manager LP’s holdings in BlackRock were worth $8,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Capital Management LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at $33,847,000. Legal & General Group Plc lifted its holdings in BlackRock by 0.8% during the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after purchasing an additional 7,457 shares during the last quarter. Varma Mutual Pension Insurance Co acquired a new position in BlackRock in the second quarter valued at about $28,185,000. Haverford Trust Co acquired a new position in BlackRock in the second quarter valued at about $264,500,000. Finally, Liberty One Investment Management LLC grew its stake in BlackRock by 30.7% during the first quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock worth $4,675,000 after buying an additional 1,141 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.8%

NYSE:BLK opened at $1,063.01 on Friday. The company has a market cap of $164.63 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.18 and a beta of 1.41. 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 stock’s fifty day moving average price is $1,102.10 and its two-hundred day moving average price is $1,049.30. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating the consensus estimate of $12.69 by $1.22. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The business’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period last year, the firm earned $12.05 EPS. On average, analysts anticipate that BlackRock will post 55.86 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BLK shares. Evercore reaffirmed an “outperform” rating and set a $1,260.00 price objective on shares of BlackRock in a report on Monday, August 10th. BMO Capital Markets increased their price target on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Barclays raised their price target on BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods downgraded BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $1,311.06.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares investment strategy leadership said artificial intelligence remains a long-term opportunity following strong second-quarter earnings across the sector. Continued investor interest in AI-focused ETFs could support flows and fee revenue for the asset manager. What comes next for ETF investors staked in the AI trade in Q3?
• Positive Sentiment: BlackRock-managed funds are participating in a roughly $1 billion equity investment in Adani Airport Holdings. The transaction expands BlackRock’s exposure to India’s infrastructure growth and may generate additional asset-management activity, although the investment itself is made for clients rather than directly by BlackRock. Adani Airports to raise approximately $1 billion
• Neutral Sentiment: A report highlighted BlackRock’s technology-focused closed-end funds, including one trading at a discount and offering substantial monthly distributions. The coverage could increase visibility for BlackRock products, but the distributions and market discount primarily affect fund investors rather than BlackRock’s corporate earnings. BlackRock runs a tech fund with monthly income
• Neutral Sentiment: BlackRock commentary indicated that investors are moving away from the traditional 60/40 portfolio mix. This could benefit alternative assets and broader product diversification, but it also signals changing allocation preferences that may pressure conventional fixed-income and equity strategies. Investors are moving away from the 60/40 portfolio mix
• Negative Sentiment: The Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging that investors may have received materially misleading information. The notice does not establish wrongdoing, but it adds litigation and reputational risk that could weigh on sentiment. BlackRock investor legal investigation

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.