NewEdge Wealth LLC Takes Position in BlackRock $BLK

NewEdge Wealth LLC purchased a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, Holdings Channel reports. The firm purchased 7,135 shares of the asset manager’s stock, valued at approximately $6,860,000.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of BlackRock by 0.8% in the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock worth $985,331,000 after purchasing an additional 7,457 shares during the period. Liberty One Investment Management LLC grew its holdings 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 valued at $4,675,000 after purchasing an additional 1,141 shares during the period. Texas Yale Capital Corp. grew its holdings in BlackRock by 32.2% during the fourth quarter. Texas Yale Capital Corp. now owns 5,764 shares of the asset manager’s stock valued at $6,169,000 after purchasing an additional 1,405 shares during the period. Thrivent Financial for Lutherans increased its position in BlackRock by 94.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,828 shares of the asset manager’s stock worth $28,720,000 after buying an additional 13,040 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of BlackRock by 0.3% in the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock valued at $4,108,968,000 after buying an additional 12,019 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: U.S. spot Bitcoin ETFs attracted $189.3 million in net inflows Tuesday, bringing August inflows near $951 million. BlackRock’s iShares Bitcoin Trust led with $143.6 million, signaling continued investor demand for one of BlackRock’s fastest-growing product areas. Bitcoin ETFs add $189M as August net inflows approach $1B
• Positive Sentiment: BlackRock reiterated that Bitcoin remains a viable diversification asset after its sharp selloff and said a 1%–2% allocation could improve risk-adjusted returns in a traditional portfolio. The supportive stance may help sustain interest in BlackRock’s crypto offerings. Bitcoin has largely purged froth, BlackRock says
• Positive Sentiment: BlackRock disclosed a roughly $3.45 billion stake in Biogen, whose shares reached a 52-week high after an earnings beat and upgraded outlook. The investment highlights the scale of BlackRock’s asset-management platform, though gains primarily accrue to fund investors rather than directly to BLK earnings. Biogen stock surges after BlackRock investment
• Neutral Sentiment: BlackRock Canada announced monthly cash distributions for numerous iShares ETFs, with payments scheduled for August 31 to investors of record on August 26. The announcement supports product visibility and investor engagement but does not materially change BlackRock’s earnings outlook. BlackRock Canada announces August cash distributions
• Neutral Sentiment: BlackRock’s HPS private-credit unit was reported among creditors taking over MBS Group alongside Oaktree Capital. The development may demonstrate private-credit activity, while also highlighting potential credit and workout risks. BlackRock’s HPS among creditors taking over MBS Group
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have provided materially misleading business information. The announcement is not a finding of wrongdoing, but could create legal costs, reputational risk and investor uncertainty. Rosen Law Firm investigates BlackRock mutual funds

BlackRock Price Performance

BlackRock stock opened at $1,159.16 on Thursday. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The business has a fifty day moving average price of $1,062.77 and a 200-day moving average price of $1,043.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $179.52 billion, a P/E ratio of 27.70, a PEG ratio of 1.30 and a beta of 1.42.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm’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 company posted $12.05 EPS. As a group, equities research analysts forecast that BlackRock will post 55.63 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock’s dividend payout ratio is currently 54.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BLK shares. BMO Capital Markets upped their price target on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Barclays lifted their price objective on BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. Evercore reiterated an “outperform” rating and set a $1,260.00 target price on shares of BlackRock in a research report on Monday, August 10th. Finally, BNP Paribas Exane lifted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $1,311.06.

BlackRock 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.