TD Waterhouse Canada Inc. Sells 804 Shares of BlackRock $BLK

TD Waterhouse Canada Inc. cut its stake in shares of BlackRock (NYSE:BLK) by 4.9% in the second quarter, Holdings Channel reports. The fund owned 15,441 shares of the asset manager’s stock after selling 804 shares during the period. TD Waterhouse Canada Inc.’s holdings in BlackRock were worth $15,144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock in the 4th quarter worth about $26,000. RMG Wealth Management LLC acquired a new position in BlackRock in the first quarter valued at about $25,000. Addison Advisors LLC bought a new stake in BlackRock during the second quarter worth about $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of BlackRock during the second quarter worth approximately $25,000. Finally, Birchbrook Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $454 million in a single day, accounting for most of the $731 million flowing into U.S. spot Bitcoin ETFs. Continued institutional demand could increase BlackRock’s digital-asset assets under management and fee revenue. Bitcoin Spot ETFs See Huge Inflows as BlackRock Takes Lead
• Positive Sentiment: An updated valuation model raised BlackRock’s estimated fair value to $1,320.81 per share from $1,314.44, reinforcing the view that the company’s earnings beat, inflows and margins support additional upside. BlackRock Stock Gets Fair Value Bump
• Positive Sentiment: BlackRock is seeking to allocate roughly 5% to 20% of target-date funds to private assets, potentially opening a large distribution channel for private equity and private credit products. BlackRock Wants Private Assets in Target-Date Funds
• Positive Sentiment: BlackRock’s support for corporate reincorporation in Texas and its broader tokenization expansion through Securitize could strengthen its positioning in business-friendly and digital-finance markets. BlackRock Casts a Vote of Confidence in Texas

BlackRock Price Performance

BlackRock stock opened at $1,121.85 on Friday. The business’s 50-day simple moving average is $1,092.75 and its 200 day simple moving average is $1,049.39. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The stock has a market cap of $173.74 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 1.24 and a beta of 1.41. BlackRock has a 12-month low of $917.39 and a 12-month 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. The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the business posted $12.05 EPS. As a group, research analysts anticipate that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

BLK has been the topic of several recent analyst reports. BNP Paribas Exane boosted their target price on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Weiss Ratings downgraded BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a report on Thursday, July 16th. Keefe, Bruyette & Woods cut BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.