Canandaigua National Bank & Trust Co. Takes $4.56 Million Position in BlackRock $BLK

Canandaigua National Bank & Trust Co. acquired a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,738 shares of the asset manager’s stock, valued at approximately $4,556,000.

Other large investors have also recently bought and sold shares of the company. CGN Advisors LLC grew its holdings in shares of BlackRock by 1.4% during the second quarter. CGN Advisors LLC now owns 3,073 shares of the asset manager’s stock valued at $2,955,000 after purchasing an additional 43 shares during the last quarter. Stonebridge Financial Group LLC boosted its position in BlackRock by 5.4% during the 2nd quarter. Stonebridge Financial Group LLC now owns 5,184 shares of the asset manager’s stock valued at $4,984,000 after purchasing an additional 267 shares during the period. Somerset Trust Co grew its stake in BlackRock by 0.3% during the 2nd quarter. Somerset Trust Co now owns 4,753 shares of the asset manager’s stock worth $4,570,000 after buying an additional 12 shares during the last quarter. Dogwood Wealth Management LLC grew its stake in BlackRock by 45.8% during the 2nd quarter. Dogwood Wealth Management LLC now owns 35 shares of the asset manager’s stock worth $34,000 after buying an additional 11 shares during the last quarter. Finally, CX Institutional increased its position in BlackRock by 6.9% in the second quarter. CX Institutional now owns 633 shares of the asset manager’s stock worth $608,000 after buying an additional 41 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $1,132.62 on Wednesday. The company has a 50-day simple moving average of $1,034.23 and a 200 day simple moving average of $1,041.97. The company has a market capitalization of $175.54 billion, a P/E ratio of 27.07, a PEG ratio of 1.27 and a beta of 1.42. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. During the same period in the previous year, the firm earned $12.05 EPS. BlackRock’s revenue was up 30.6% on a year-over-year basis. Sell-side analysts predict that BlackRock will post 55.63 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be paid a $5.73 dividend. 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 currently 54.78%.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock launched two tokenized money-market products: BSTBL, an on-chain share class of its existing Treasury liquidity fund, and BRSRV, a new vehicle designed for institutional stablecoin-reserve management. The funds invest in cash, short-term U.S. Treasuries and repurchase agreements rather than cryptocurrencies. The initiative could open a new distribution channel, attract institutional digital-asset capital and position BlackRock as a major stablecoin-reserve manager ahead of U.S. regulatory developments. BlackRock launches tokenized money market funds for stablecoin reserves
• Positive Sentiment: The tokenized funds will use Ethereum, Solana and other approved blockchain infrastructure, allowing eligible investors to transfer fund shares digitally while maintaining exposure to traditional low-risk assets. This reinforces BlackRock’s first-mover position in the convergence of traditional asset management and digital finance. BlackRock Launches Tokenized Money Market Fund on Solana and Ethereum
• Positive Sentiment: BlackRock’s latest reported quarter showed adjusted EPS of $13.91 versus a $12.69 consensus estimate and revenue of $7.08 billion versus $6.73 billion expected. Record assets under management and continued inflows support the company’s fee-based earnings outlook.
• Neutral Sentiment: Reports that Italy’s Intesa Sanpaolo sharply reduced its stake in BlackRock’s Bitcoin ETF while increasing Ethereum exposure may indicate rotation within crypto products, but the effect on BlackRock’s overall asset base and fee revenue remains uncertain. Italy’s Largest Bank Cuts BlackRock Bitcoin ETF Stake 94%
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that investors may have received materially misleading business information. The report is an investigation announcement, not a finding of wrongdoing, but it introduces headline and litigation risk. BlackRock Investor News

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $1,275.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Evercore reissued an “outperform” rating and set a $1,145.00 target price on shares of BlackRock in a research note on Friday, July 10th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $1,304.29.

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.