Engineers Gate Manager LP Purchases 2,165 Shares of BlackRock $BLK

Engineers Gate Manager LP increased its position in BlackRock (NYSE:BLK) by 34.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,415 shares of the asset manager’s stock after buying an additional 2,165 shares during the period. Engineers Gate Manager LP’s holdings in BlackRock were worth $8,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. RMG Wealth Management LLC bought a new position in shares of BlackRock during the 1st quarter valued at $25,000. Addison Advisors LLC bought a new stake in BlackRock in the second quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in BlackRock in the second quarter worth $25,000. Evolution Wealth Management Inc. acquired a new position in BlackRock during the fourth quarter worth $26,000. Finally, Meeder Asset Management Inc. bought a new position in BlackRock during the second quarter valued at about $30,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares investment strategy leadership said artificial intelligence remains a long-term opportunity following strong second-quarter earnings across the sector. Continued investor interest in AI-focused ETFs could support flows and fee revenue for the asset manager. What comes next for ETF investors staked in the AI trade in Q3?
• Positive Sentiment: BlackRock-managed funds are participating in a roughly $1 billion equity investment in Adani Airport Holdings. The transaction expands BlackRock’s exposure to India’s infrastructure growth and may generate additional asset-management activity, although the investment itself is made for clients rather than directly by BlackRock. Adani Airports to raise approximately $1 billion
• Neutral Sentiment: A report highlighted BlackRock’s technology-focused closed-end funds, including one trading at a discount and offering substantial monthly distributions. The coverage could increase visibility for BlackRock products, but the distributions and market discount primarily affect fund investors rather than BlackRock’s corporate earnings. BlackRock runs a tech fund with monthly income
• Neutral Sentiment: BlackRock commentary indicated that investors are moving away from the traditional 60/40 portfolio mix. This could benefit alternative assets and broader product diversification, but it also signals changing allocation preferences that may pressure conventional fixed-income and equity strategies. Investors are moving away from the 60/40 portfolio mix
• Negative Sentiment: The Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging that investors may have received materially misleading information. The notice does not establish wrongdoing, but it adds litigation and reputational risk that could weigh on sentiment. BlackRock investor legal investigation

BlackRock Price Performance

NYSE:BLK opened at $1,063.01 on Friday. The stock has a market cap of $164.63 billion, a P/E ratio of 25.41, a PEG ratio of 1.18 and a beta of 1.41. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a fifty day moving average price of $1,102.10 and a 200 day moving average price of $1,049.30. 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 (NYSE:BLK) last posted its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping 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 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 business posted $12.05 EPS. The business’s quarterly revenue was up 30.6% on a year-over-year basis. Analysts anticipate that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced 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. 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 2.2%. BlackRock’s dividend payout ratio (DPR) is 54.78%.

Analysts Set New Price Targets

BLK has been the subject of several recent analyst reports. BMO Capital Markets upped their price target on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. UBS Group raised their price objective on BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Evercore reaffirmed an “outperform” rating and set a $1,260.00 target price on shares of BlackRock in a research report on Monday, August 10th. Finally, Bank of America lifted their price target on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,311.06.

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.