10,067 Shares in BlackRock $BLK Acquired by Sone Capital Management LLC

Sone Capital Management LLC acquired a new stake in BlackRock (NYSE:BLK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,067 shares of the asset manager’s stock, valued at approximately $9,680,000.

A number of other hedge funds also recently made changes to their positions in BLK. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock in the fourth quarter valued at $26,000. RMG Wealth Management LLC purchased a new stake in BlackRock during the 1st quarter worth $25,000. Addison Advisors LLC acquired a new position in BlackRock in the 2nd quarter worth $25,000. Birchbrook Inc. purchased a new stake in shares of BlackRock during the fourth quarter worth about $31,000. Finally, Basepoint Wealth LLC purchased a new position in BlackRock in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BLK. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Evercore reaffirmed an “outperform” rating and issued a $1,260.00 price target on shares of BlackRock in a report on Monday, August 10th. Bank of America increased their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Zacks Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods lowered shares of BlackRock from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Buy” and an average target price of $1,311.06.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s roughly $965 million investment in Five Below (NASDAQ: FIVE) helped draw attention to its ability to deploy capital into high-growth companies. Five Below also reported strong quarterly results, sending its shares to a record high and potentially highlighting the value of BlackRock’s investment activity. Five Below Stock Soars Following BlackRock Investment
• Positive Sentiment: BlackRock’s covered-call Bitcoin fund reportedly made its first monthly distribution, with an annualized rate of about 18.5%. The product could create a new fee and asset-gathering opportunity, although the high distribution reflects option income and may limit upside participation in Bitcoin. BlackRock Bitcoin Fund Pays First Dividend
• Neutral Sentiment: BlackRock has reiterated that its long-term investment case for Bitcoin remains intact despite a sharp correction. The comments support the firm’s broader digital-asset strategy, but do not directly affect near-term earnings unless they lead to additional fund inflows. BlackRock’s Long-Term Bitcoin Thesis
• Neutral Sentiment: Routine disclosures showed BlackRock subsidiaries’ holdings in Stora Enso fell below 5%, while other reports discussed BlackRock ETFs. These items have limited immediate implications for BLK’s fundamentals. BlackRock Subsidiaries Report Stora Enso Holdings
• Negative Sentiment: BlackRock is reportedly seeking buyers for approximately $671 million of loans held by TCP Capital, using Keefe, Bruyette & Woods to explore a sale. The move is intended to reshape the private-credit vehicle after a difficult period, but it may raise concerns about credit quality, valuation and execution in BlackRock’s private-markets platform. BlackRock Puts TCP Capital Loans on the Block
• Negative Sentiment: A law firm is soliciting investors who experienced losses in BlackRock mutual funds as part of an investigation into alleged misleading disclosures. The announcement is not a formal finding, but it adds legal and reputational risk. BlackRock Investor Rights Investigation

BlackRock Stock Performance

BlackRock stock opened at $1,171.83 on Tuesday. 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 has a 12 month low of $917.39 and a 12 month high of $1,219.94. The company has a fifty day moving average price of $1,070.33 and a two-hundred day moving average price of $1,044.42. The company has a market cap of $181.48 billion, a PE ratio of 28.01, a P/E/G ratio of 1.28 and a beta of 1.42.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $6.73 billion. During the same period in the prior year, the company earned $12.05 earnings per share. The firm’s revenue was up 30.6% compared to the same quarter last year. Research analysts expect that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.0%. BlackRock’s dividend payout ratio is 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.