4,246 BlackRock $BLK Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lifted its position in shares of BlackRock (NYSE:BLK) by 214.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,225 shares of the asset manager’s stock after purchasing an additional 4,246 shares during the period. BlackRock accounts for 1.4% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 8th largest holding. Legacy Wealth Asset Management LLC’s holdings in BlackRock were worth $6,588,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BLK. Santa Clara Valley Transportation Authority bought a new position in shares of BlackRock in the second quarter valued at about $129,138,253,000. BlackRock Inc. acquired a new position in BlackRock in the second quarter valued at about $9,747,857,000. State Street Corp lifted its holdings in shares of BlackRock by 0.5% during the 4th quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after acquiring an additional 33,752 shares during the period. Corient Private Wealth LLC boosted its holdings 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 valued at $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Finally, Temasek Holdings Private Ltd boosted its stake in BlackRock by 4.7% in the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after buying an additional 237,667 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s shares have gained 6.8% over the past six months, supported by record assets under management, strategic acquisitions, strong investment demand, and its diversified product lineup. However, analysts caution that the stock’s elevated valuation could limit additional upside. BLK Shares Rally 6.8% in Six Months: Is There Further Upside Left?
• Positive Sentiment: BlackRock is reportedly in exclusive discussions to acquire Stack Infrastructure’s Asia-Pacific data-center assets in a potential $20 billion-to-$25 billion transaction. The deal would increase exposure to AI and cloud infrastructure, though its size also raises execution and financing considerations. BlackRock in Exclusive Talks on $20 Billion Data Center Deal
• Positive Sentiment: BlackRock continues to promote growth in digital assets and tokenization, including tokenized money-market funds, stablecoins, Bitcoin, and AI-driven crypto payments. Its crypto portfolio reportedly increased by more than $291 million over four days, highlighting potential long-term fee and product opportunities. BlackRock’s Nikhil Sharma Pitches Tokenized Money Market Funds
• Neutral Sentiment: Fixed-income chief Rick Rieder said short-term bonds remain attractive and indicated a hawkish Federal Reserve positioning. Higher rates can support fixed-income demand but may pressure equity valuations and risk assets. BlackRock’s Rieder on Yield Curve and Federal Reserve Rate Hikes
• Negative Sentiment: U.S. spot Bitcoin ETFs recorded approximately $484.9 million in net outflows, with BlackRock’s iShares Bitcoin Trust accounting for $207.7 million. The withdrawals reduce near-term sentiment around crypto-related asset growth and fee revenue. US Bitcoin ETFs See $485 Million Outflow
• Negative Sentiment: BlackRock is scheduled to report quarterly results next week. While Wall Street expects earnings growth, a Zacks analysis says the company may lack the typical indicators for a significant earnings beat, increasing event risk for the stock. BlackRock Reports Next Week
• Negative Sentiment: The Rosen Law Firm is investigating potential securities claims involving BlackRock mutual funds, citing allegations of materially misleading business information. The announcement creates reputational and potential legal overhang, although it does not establish wrongdoing. BlackRock Investor News

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLK. Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a research note on Thursday, July 16th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a research note on Thursday, July 16th. Barclays cut their price objective on shares of BlackRock from $1,450.00 to $1,420.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on BlackRock from $1,364.00 to $1,435.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,303.35.

BlackRock Trading Down 0.2%

NYSE BLK opened at $1,067.09 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $1,110.01 and a 200 day simple moving average of $1,058.13. 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 $165.26 billion, a P/E ratio of 25.50, a PEG ratio of 1.21 and a beta of 1.41.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $12.05 EPS. On average, analysts predict that BlackRock will post 55.73 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s dividend payout ratio is presently 54.78%.

BlackRock Company Profile

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.