Principle Wealth Partners LLC Takes Position in BlackRock $BLK

Principle Wealth Partners LLC bought a new stake in BlackRock (NYSE:BLK) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 5,504 shares of the asset manager’s stock, valued at approximately $5,293,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RMG Wealth Management LLC purchased a new stake in BlackRock during the 1st quarter valued at about $25,000. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock in the fourth quarter worth about $26,000. Birchbrook Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth about $31,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of BlackRock during the fourth quarter worth about $32,000. Finally, Basepoint Wealth LLC purchased a new stake in BlackRock in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Technical momentum remains favorable. BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross,” which technical analysts view as a bullish signal. After Golden Cross, BlackRock Technical Outlook Is Bright
• Positive Sentiment: Income-investor appeal remains intact. BlackRock is highlighted among dividend-paying financial stocks with favorable analyst ratings and potential price-target upside, which could support demand from yield-focused investors. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Positive Sentiment: Bitcoin ETF demand is a modest supportive factor. Tudor Investment reportedly increased its position in BlackRock’s spot Bitcoin ETF to $22.9 million, reinforcing institutional interest in the product and potentially supporting fee-related asset growth. Tudor Investment Boosts Bitcoin ETF Holdings
• Neutral Sentiment: Valuation comparisons offer no decisive catalyst. A Zacks comparison of BlackRock and Affiliated Managers Group examines which asset manager provides better value, but the article does not establish a clear near-term reason for investors to favor BLK. AMG vs. BLK: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Insurance and financing risks are the main overhang. A roughly $14 billion Texas data-center campus owned by Meta and BlackRock may be significantly underinsured against catastrophic events because insurers are reluctant to provide full coverage. The potential for large uncovered losses could increase lender and investment risk concerns, likely contributing to pressure on BLK. Meta and BlackRock’s Data Centre Exposes Lenders to Insurance Gap

Analyst Upgrades and Downgrades

BLK has been the topic of several research reports. Weiss Ratings downgraded shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. BMO Capital Markets upped their price objective on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,258.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. BNP Paribas Exane raised their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Finally, Morgan Stanley boosted their target price on shares of BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $1,311.06.

BlackRock Stock Down 2.1%

Shares of BLK stock opened at $1,148.91 on Tuesday. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock has a market cap of $177.93 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.32 and a beta of 1.42. The stock has a 50 day moving average of $1,056.94 and a 200 day moving average of $1,042.81. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK) last released 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. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The business’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $12.05 EPS. As a group, sell-side analysts expect that BlackRock will post 55.63 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be given 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 currently 54.78%.

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.