218,804 Shares in BlackRock $BLK Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec acquired a new position in BlackRock (NYSE:BLK) in the 2nd quarter, Holdings Channel reports. The firm acquired 218,804 shares of the asset manager’s stock, valued at approximately $210,393,000.

Several other large investors have also bought and sold shares of the company. RMG Wealth Management LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $25,000. Addison Advisors LLC bought a new position in BlackRock in the second quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of BlackRock during the 2nd quarter valued at $25,000. Evolution Wealth Management Inc. purchased a new stake in shares of BlackRock in the 4th quarter worth about $26,000. Finally, Meeder Asset Management Inc. bought a new position in shares of BlackRock in the 2nd quarter worth about $30,000. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.2%

Shares of BLK opened at $1,174.17 on Thursday. The business’s 50 day simple moving average is $1,075.18 and its 200-day simple moving average is $1,045.98. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The stock has a market capitalization of $181.84 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the firm earned $12.05 earnings per share. BlackRock’s quarterly revenue was up 30.6% compared to the same quarter last year. As a group, equities analysts expect that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) has processed more than $5 billion in tax-deferred conversions from directly held Bitcoin. Reducing the minimum conversion size from $25 million to $1 million could make the product accessible to more wealthy investors and institutions, potentially supporting assets under management and fee revenue. However, these transactions transfer existing Bitcoin into the ETF rather than representing equivalent new cash inflows. Bitcoin to $100K? BlackRock’s $5B ETF Shift Pulls More BTC Into Wall Street
• Positive Sentiment: Wall Street analysts remain broadly optimistic about BlackRock’s growth prospects and target price, despite the shares’ strong multiyear advance. What Are Wall Street Analysts’ Target Price for BlackRock Stock?
• Neutral Sentiment: BlackRock named Jessica Tan to lead its global product unit, a management change that could influence future product development and distribution but whose financial impact is not yet clear. BlackRock names Jessica Tan to head global product unit
• Neutral Sentiment: The company announced final August cash distributions for the iShares Premium Money Market ETF. The announcement is routine and primarily affects fund investors rather than BlackRock’s corporate earnings. BlackRock Canada Announces Final August Cash Distributions
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have issued materially misleading business information. The announcement does not establish wrongdoing, but it introduces potential legal, reputational and financial risk. BlackRock Investor News: Rosen Law Firm Investigation
• Negative Sentiment: One valuation review says BlackRock now trades near fair value on intrinsic estimates and looks expensive on earnings multiples after an approximately 82% three-year return, limiting near-term upside unless earnings and fee growth accelerate. BlackRock Stock Looks Fully Valued After an 82% Run

Analysts Set New Price Targets

BLK has been the topic of several research reports. Evercore reissued an “outperform” rating and set a $1,260.00 price objective on shares of BlackRock in a research note on Monday, August 10th. Weiss Ratings lowered shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Bank of America upped their price target on BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. BMO Capital Markets lifted their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $1,311.06.

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.