Pure Financial Advisors LLC Invests $472,000 in BlackRock $BLK

Pure Financial Advisors LLC acquired a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 491 shares of the asset manager’s stock, valued at approximately $472,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. RMG Wealth Management LLC purchased a new position in shares of BlackRock during the first quarter worth approximately $25,000. Addison Advisors LLC bought a new position in BlackRock in the second quarter worth approximately $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in BlackRock during the 2nd quarter worth $25,000. Evolution Wealth Management Inc. purchased a new position in BlackRock during the 4th quarter worth $26,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of BlackRock in the 2nd quarter worth $30,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,167.69 on Friday. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a market cap of $180.84 billion, a PE ratio of 27.91, a P/E/G ratio of 1.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The business has a 50-day simple moving average of $1,077.50 and a two-hundred day simple moving average of $1,046.77.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating 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 firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the firm posted $12.05 EPS. BlackRock’s revenue was up 30.6% on a year-over-year basis. As a group, equities analysts expect that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.0%. BlackRock’s payout ratio is currently 54.78%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BLK shares. The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 price objective on shares of BlackRock in a report on Thursday, July 16th. Weiss Ratings cut shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Evercore reissued an “outperform” rating and set a $1,260.00 price objective on shares of BlackRock in a report on Monday, August 10th. Bank of America upped their target price on BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, BNP Paribas Exane boosted their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,311.06.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s newer income-focused ETF is reportedly up 19% this year, compared with 10% for JPMorgan’s JEPQ, while charging the same fee. Strong relative performance could support additional iShares inflows and fee revenue. BlackRock ETF outperformance article
• Positive Sentiment: BlackRock continues to highlight Bitcoin’s role as “digital gold” and a hedge against rising U.S. debt and deficits. Management also sees continued strength in Bitcoin, supporting the long-term case for cryptocurrency-related assets under management. BlackRock Bitcoin hedge case article
• Positive Sentiment: Adroit Trading Technologies is integrating its cross-asset execution tools with BlackRock’s Aladdin platform. The partnership may improve Aladdin’s functionality, client retention and potential technology-related revenue. Aladdin integration article
• Positive Sentiment: BlackRock’s crypto portfolio reportedly gained more than $15 billion during August as Bitcoin and Ethereum rallied. The firm is also participating in an Nvidia-led effort tied to AI infrastructure, broadening potential future growth avenues beyond traditional asset management. BlackRock crypto and AI strategy article

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.