New Covenant Trust Company N.A. Raises Stock Position in BlackRock $BLK

New Covenant Trust Company N.A. boosted its position in shares of BlackRock (NYSE:BLK) by 807.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,250 shares of the asset manager’s stock after acquiring an additional 2,002 shares during the period. BlackRock accounts for 1.6% of New Covenant Trust Company N.A.’s investment portfolio, making the stock its 14th biggest holding. New Covenant Trust Company N.A.’s holdings in BlackRock were worth $2,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of BlackRock during the second quarter valued at approximately $9,747,857,000. State Street Corp lifted its stake 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 valued at $6,705,193,000 after purchasing an additional 33,752 shares during the period. Corient Private Wealth LLC increased its stake in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Temasek Holdings Private Ltd grew its position in shares of BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after purchasing an additional 237,667 shares during the period. Finally, Bank of America Corp DE lifted its stake in BlackRock by 0.7% in the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock valued at $5,032,603,000 after acquiring an additional 35,069 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BLK. Bank of America lifted their price target 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. Barclays decreased their price target on BlackRock from $1,450.00 to $1,420.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets upped their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,389.00 target price on shares of BlackRock in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,303.35.

BlackRock Price Performance

NYSE:BLK traded down $1.36 on Thursday, hitting $1,068.27. The company had a trading volume of 170,168 shares, compared to its average volume of 739,490. The firm has a 50 day moving average of $1,110.65 and a two-hundred day moving average of $1,057.36. The stock has a market capitalization of $165.44 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.22 and a beta of 1.41. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the prior year, the company earned $12.05 EPS. BlackRock’s revenue was up 30.6% compared to the same quarter last year. On average, research analysts anticipate that BlackRock will post 55.73 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were given a dividend of $5.73 per share. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.1%. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock and its partners are reportedly in exclusive talks to acquire Stack Infrastructure’s Asia-Pacific data-center assets in a potential $20 billion-to-$25 billion transaction. The deal would expand BlackRock’s exposure to AI and cloud infrastructure, although it could also require substantial capital. BlackRock in talks on data center deal
• Positive Sentiment: BlackRock’s digital-asset franchise remains a growth driver: its spot Bitcoin ETFs have become the world’s largest pool of Bitcoin holdings, while executives continue promoting tokenized money-market funds, stablecoins and potential AI-related crypto payments. These initiatives could support future fee growth and asset gathering. Bitcoin ETFs reach 1,000 days
• Positive Sentiment: Several BlackRock products have recently outperformed competing funds, including an income strategy that beat JEPI and a semiconductor fund that outpaced SMH over the past year. Strong performance can help attract new client assets, though past performance may not persist. BlackRock income fund performance
• Neutral Sentiment: Fixed-income CIO Rick Rieder said short-term bonds remain attractive and indicated he is positioned for a hawkish Federal Reserve. Higher yields may benefit fixed-income demand, but persistent rate hikes can pressure equity valuations and economic activity. BlackRock’s Rieder on rates
• Negative Sentiment: U.S. spot Bitcoin ETFs recorded approximately $485 million in net outflows, with BlackRock’s iShares Bitcoin Trust accounting for $207.7 million. The withdrawals reversed October’s previous inflows and directly weaken near-term sentiment toward BlackRock’s fastest-growing product area. Bitcoin ETF outflows
• Negative Sentiment: Analysts expect earnings growth in BlackRock’s upcoming report, but some commentary says the company lacks the typical combination of positive earnings revisions and estimate momentum associated with a likely beat. That creates a near-term catalyst risk. BlackRock earnings expectations
• Negative Sentiment: The Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging potentially misleading business information. The announcement is preliminary, but it adds reputational and legal overhang. BlackRock investor investigation

About BlackRock

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.