Great Lakes Advisors LLC Makes New Investment in BlackRock $BLK

Great Lakes Advisors LLC purchased a new position in shares of BlackRock (NYSE:BLK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 155,091 shares of the asset manager’s stock, valued at approximately $149,132,000. BlackRock makes up 1.1% of Great Lakes Advisors LLC’s holdings, making the stock its 22nd largest holding. Great Lakes Advisors LLC owned approximately 0.10% of BlackRock as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BLK. Vanguard Group Inc. lifted its position in shares of BlackRock by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after acquiring an additional 221,123 shares during the period. BlackRock Inc. bought a new stake in BlackRock in the second quarter valued at $9,747,857,000. State Street Corp raised its holdings in shares of BlackRock by 0.5% during the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock valued at $6,705,193,000 after purchasing an additional 33,752 shares during the period. Corient Private Wealth LLC boosted its position in shares of BlackRock by 5,190.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its stake in shares of BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after buying an additional 237,667 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $1,155.78 on Wednesday. The company has a fifty day moving average price of $1,059.83 and a 200-day moving average price of $1,043.05. The firm has a market cap of $179.00 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.32 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 has a 1 year low of $917.39 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK) last released 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 14.90%. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the firm earned $12.05 earnings per share. The firm’s revenue was up 30.6% on a year-over-year basis. As a group, equities research analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Announces Dividend

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 given a dividend of $5.73 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Morgan Stanley upped their target price on BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,258.00 price objective on shares of BlackRock in a report on Thursday, July 16th. Finally, BMO Capital Markets upped their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Two equities research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $1,311.06.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin’s Investment Case Hasn’t Changed, BlackRock Says
• Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
• Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
• Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
• Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk

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.