Rathbones Group PLC Has $50.50 Million Stake in BlackRock $BLK

Rathbones Group PLC decreased its stake in shares of BlackRock (NYSE:BLK) by 4.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 52,506 shares of the asset manager’s stock after selling 2,390 shares during the quarter. Rathbones Group PLC’s holdings in BlackRock were worth $50,496,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. RMG Wealth Management LLC bought a new position in BlackRock during the first quarter valued at about $25,000. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock in the 4th quarter worth approximately $26,000. Birchbrook Inc. bought a new stake in shares of BlackRock in the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $32,000. Finally, Basepoint Wealth LLC bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $32,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLK shares. Barclays lifted their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upgraded shares of BlackRock from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. BNP Paribas Exane lifted their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. BMO Capital Markets upped their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $1,275.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $1,304.29.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Demand for BlackRock’s crypto products remains strong. Its iShares Bitcoin Trust (IBIT) attracted approximately $183 million of new inflows on July 30, contributing to $233 million in total spot Bitcoin ETF inflows. Continued ETF demand could support fee revenue and assets under management. Spot Bitcoin ETFs Attract $233M in Fresh Inflows as BlackRock’s IBIT Leads Demand
• Positive Sentiment: Stripe’s blockchain, Tempo, integrated BlackRock’s BUIDL tokenized Treasury fund, expanding institutional access to the product and reinforcing BlackRock’s leadership in tokenized assets. Tempo Brings BlackRock’s BUIDL to Businesses in New Treasury Partnership
• Positive Sentiment: BlackRock was identified alongside Fidelity and Goldman Sachs as a major TradFi supporter of the CLARITY Act, potentially improving regulatory clarity for digital assets if the legislation advances. Could Wisconsin strip your voting rights for using prediction markets?
• Neutral Sentiment: Analysts highlighted three BlackRock mutual funds with top Zacks rankings, but the article is promotional and does not represent new company fundamentals or a material change in investor demand. 3 BlackRock Mutual Funds to Grab Now for Superior Returns
• Negative Sentiment: Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging misleading business information. The announcement does not establish wrongdoing, but it creates headline and litigation risk. Rosen Investor Investigation

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,093.47 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The business’s fifty day moving average price is $1,032.03 and its two-hundred day moving average price is $1,041.40. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The stock has a market capitalization of $169.48 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.42.

BlackRock (NYSE:BLK) last issued its earnings results 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 15.01%. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the previous year, the company earned $12.05 EPS. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, analysts predict that BlackRock will post 55.63 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. Investors of record on Tuesday, September 8th will be issued a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.

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.