Perigon Wealth Management LLC Makes New $2.60 Million Investment in BlackRock $BLK

Perigon Wealth Management LLC purchased a new position in shares of BlackRock (NYSE:BLK) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,704 shares of the asset manager’s stock, valued at approximately $2,600,000.

Other large investors have also made changes to their positions in the company. RMG Wealth Management LLC bought a new position in BlackRock during the first quarter valued at approximately $25,000. Evolution Wealth Management Inc. acquired a new position in shares of BlackRock during the 4th quarter worth $26,000. Birchbrook Inc. bought a new position in shares of BlackRock during the 4th quarter valued at $31,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of BlackRock in the 4th quarter valued at $32,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at $32,000. 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: Technical momentum remains favorable. BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross,” which technical analysts view as a bullish signal. After Golden Cross, BlackRock Technical Outlook Is Bright
• Positive Sentiment: Income-investor appeal remains intact. BlackRock is highlighted among dividend-paying financial stocks with favorable analyst ratings and potential price-target upside, which could support demand from yield-focused investors. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Positive Sentiment: Bitcoin ETF demand is a modest supportive factor. Tudor Investment reportedly increased its position in BlackRock’s spot Bitcoin ETF to $22.9 million, reinforcing institutional interest in the product and potentially supporting fee-related asset growth. Tudor Investment Boosts Bitcoin ETF Holdings
• Neutral Sentiment: Valuation comparisons offer no decisive catalyst. A Zacks comparison of BlackRock and Affiliated Managers Group examines which asset manager provides better value, but the article does not establish a clear near-term reason for investors to favor BLK. AMG vs. BLK: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Insurance and financing risks are the main overhang. A roughly $14 billion Texas data-center campus owned by Meta and BlackRock may be significantly underinsured against catastrophic events because insurers are reluctant to provide full coverage. The potential for large uncovered losses could increase lender and investment risk concerns, likely contributing to pressure on BLK. Meta and BlackRock’s Data Centre Exposes Lenders to Insurance Gap

BlackRock Stock Down 2.1%

BLK opened at $1,148.91 on Tuesday. The business has a 50 day moving average of $1,056.94 and a 200-day moving average of $1,042.81. The stock has a market capitalization of $177.93 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 1.32 and a beta of 1.42. 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 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the firm earned $12.05 EPS. BlackRock’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BLK shares. BMO Capital Markets boosted 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. Morgan Stanley boosted their target price on BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,258.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Bank of America upped their price objective 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. Finally, Zacks Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $1,311.06.

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.