Pallas Capital Advisors LLC Acquires New Shares in BlackRock $BLK

Pallas Capital Advisors LLC acquired a new position in BlackRock (NYSE:BLK) in the 2nd quarter, Holdings Channel reports. The firm acquired 1,896 shares of the asset manager’s stock, valued at approximately $1,823,000.

Other institutional investors have also made changes to their positions in the company. RMG Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter worth approximately $25,000. Evolution Wealth Management Inc. acquired a new stake in BlackRock in the 4th quarter valued at approximately $26,000. Birchbrook Inc. acquired a new stake in BlackRock in the 4th quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA purchased a new stake in BlackRock in the fourth quarter valued at approximately $32,000. Finally, Basepoint Wealth LLC acquired a new position in BlackRock during the fourth quarter worth $32,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 2.1%

Shares of NYSE BLK opened at $1,148.91 on Tuesday. The stock has a market cap of $177.93 billion, a P/E ratio of 27.46, a PEG ratio of 1.32 and a beta of 1.42. The business’s fifty day simple moving average is $1,056.94 and its 200-day simple moving average is $1,042.81. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. 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 issued its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 14.90% and a net margin of 24.09%.BlackRock’s revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $12.05 EPS. As a group, equities analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Announces Dividend

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 paid a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio is presently 54.78%.

Analysts Set New Price Targets

Several research analysts have recently commented on BLK shares. Weiss Ratings lowered BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. BNP Paribas Exane boosted their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. raised BlackRock from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $1,389.00 target price on shares of BlackRock in a report on Thursday, July 16th. Finally, Morgan Stanley lifted their target price on 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 analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $1,311.06.

More BlackRock News

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

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.