Canandaigua National Bank & Trust Co. Takes Position in BlackRock $BLK

Canandaigua National Bank & Trust Co. acquired a new position in shares of BlackRock (NYSE:BLK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,738 shares of the asset manager’s stock, valued at approximately $4,556,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CGN Advisors LLC grew its holdings in BlackRock by 1.4% during the 2nd quarter. CGN Advisors LLC now owns 3,073 shares of the asset manager’s stock valued at $2,955,000 after buying an additional 43 shares during the last quarter. Stonebridge Financial Group LLC raised its holdings in shares of BlackRock by 5.4% in the second quarter. Stonebridge Financial Group LLC now owns 5,184 shares of the asset manager’s stock worth $4,984,000 after acquiring an additional 267 shares during the last quarter. Somerset Trust Co raised its holdings in shares of BlackRock by 0.3% in the second quarter. Somerset Trust Co now owns 4,753 shares of the asset manager’s stock worth $4,570,000 after acquiring an additional 12 shares during the last quarter. Dogwood Wealth Management LLC lifted its position in shares of BlackRock by 45.8% in the second quarter. Dogwood Wealth Management LLC now owns 35 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 11 shares in the last quarter. Finally, CX Institutional boosted its stake in shares of BlackRock by 6.9% during the second quarter. CX Institutional now owns 633 shares of the asset manager’s stock valued at $608,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock launched two tokenized money-market products: BSTBL, an on-chain share class of its existing Treasury liquidity fund, and BRSRV, a new vehicle designed for institutional stablecoin-reserve management. The funds invest in cash, short-term U.S. Treasuries and repurchase agreements rather than cryptocurrencies. The initiative could open a new distribution channel, attract institutional digital-asset capital and position BlackRock as a major stablecoin-reserve manager ahead of U.S. regulatory developments. BlackRock launches tokenized money market funds for stablecoin reserves
• Positive Sentiment: The tokenized funds will use Ethereum, Solana and other approved blockchain infrastructure, allowing eligible investors to transfer fund shares digitally while maintaining exposure to traditional low-risk assets. This reinforces BlackRock’s first-mover position in the convergence of traditional asset management and digital finance. BlackRock Launches Tokenized Money Market Fund on Solana and Ethereum
• Positive Sentiment: BlackRock’s latest reported quarter showed adjusted EPS of $13.91 versus a $12.69 consensus estimate and revenue of $7.08 billion versus $6.73 billion expected. Record assets under management and continued inflows support the company’s fee-based earnings outlook.
• Neutral Sentiment: Reports that Italy’s Intesa Sanpaolo sharply reduced its stake in BlackRock’s Bitcoin ETF while increasing Ethereum exposure may indicate rotation within crypto products, but the effect on BlackRock’s overall asset base and fee revenue remains uncertain. Italy’s Largest Bank Cuts BlackRock Bitcoin ETF Stake 94%
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that investors may have received materially misleading business information. The report is an investigation announcement, not a finding of wrongdoing, but it introduces headline and litigation risk. BlackRock Investor News

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. UBS Group lifted their price objective on BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a research report 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 stock an “outperform” rating in a research note on Tuesday, June 23rd. Bank of America lifted their price target on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Zacks Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $1,275.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Buy” and a consensus price target of $1,304.29.

BlackRock Stock Performance

Shares of BLK stock opened at $1,132.62 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a market capitalization of $175.54 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.42. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a 50 day moving average price of $1,034.23 and a 200 day moving average price of $1,041.97.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the business earned $12.05 EPS. BlackRock’s revenue for the quarter was up 30.6% on a year-over-year basis. Sell-side analysts anticipate that BlackRock will post 55.63 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. 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.