Summitry LLC Acquires 22,095 Shares of BlackRock $BLK

Summitry LLC boosted its stake in shares of BlackRock (NYSE:BLK) by 3,622.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 22,705 shares of the asset manager’s stock after buying an additional 22,095 shares during the quarter. Summitry LLC’s holdings in BlackRock were worth $21,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. WNY Asset Management LLC bought a new position in shares of BlackRock during the 1st quarter worth about $231,000. Segall Bryant & Hamill LLC acquired a new stake in shares of BlackRock in the first quarter valued at $7,366,000. GKV Capital Management Co. Inc. increased its position in BlackRock by 9.0% in the 1st quarter. GKV Capital Management Co. Inc. now owns 1,995 shares of the asset manager’s stock valued at $1,919,000 after acquiring an additional 165 shares in the last quarter. Essential Partners LLC boosted its position in BlackRock by 214.3% in the 1st quarter. Essential Partners LLC now owns 176 shares of the asset manager’s stock valued at $169,000 after buying an additional 120 shares during the last quarter. Finally, Western Wealth Management LLC boosted its holdings in BlackRock by 65.6% in the first quarter. Western Wealth Management LLC now owns 5,211 shares of the asset manager’s stock valued at $5,011,000 after acquiring an additional 2,064 shares during the last quarter. 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: 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 Trading Down 0.4%

Shares of BlackRock stock opened at $1,093.47 on Friday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The firm has a 50-day moving average of $1,032.03 and a 200-day moving average of $1,041.73. The stock has a market cap of $169.48 billion, a PE ratio of 26.13, a PEG ratio of 1.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the previous year, the firm earned $12.05 earnings per share. BlackRock’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, sell-side analysts forecast that BlackRock will post 55.63 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 8th. BlackRock’s payout ratio is currently 54.78%.

Analyst Upgrades and Downgrades

A number of analysts have commented on BLK shares. Barclays lifted their target price on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. BNP Paribas Exane upped their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. TD Cowen dropped their target price on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Finally, Bank of America increased 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 note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $1,304.29.

BlackRock Company 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.