Munich Reinsurance Co Stock Corp in Munich Buys 8,755 Shares of BlackRock $BLK

Munich Reinsurance Co Stock Corp in Munich raised its stake in shares of BlackRock (NYSE:BLK) by 2,879.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 9,059 shares of the asset manager’s stock after acquiring an additional 8,755 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in BlackRock were worth $8,711,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Gibson Capital LLC raised its holdings in shares of BlackRock by 3.4% in the fourth quarter. Gibson Capital LLC now owns 308 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 10 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in BlackRock by 4.5% during the fourth quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager’s stock worth $246,000 after purchasing an additional 10 shares during the last quarter. Great Diamond Partners LLC boosted its holdings in BlackRock by 0.4% during the fourth quarter. Great Diamond Partners LLC now owns 2,791 shares of the asset manager’s stock worth $2,987,000 after purchasing an additional 10 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in BlackRock by 1.7% in the 4th quarter. Thoroughbred Financial Services LLC now owns 593 shares of the asset manager’s stock worth $635,000 after purchasing an additional 10 shares in the last quarter. Finally, Breakwater Capital Group grew its position in BlackRock by 3.8% in the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock worth $261,000 after purchasing an additional 10 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Down 0.4%

BLK opened at $1,121.85 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The stock has a market cap of $173.74 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.24 and a beta of 1.41. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The company’s 50-day moving average price is $1,092.75 and its two-hundred day moving average price is $1,049.39.

BlackRock (NYSE:BLK) last issued 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. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the business posted $12.05 EPS. As a group, equities analysts expect 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. 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 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BLK shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Morgan Stanley upped their target price on BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods downgraded BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Finally, Evercore reissued an “outperform” rating and issued a $1,260.00 price objective on shares of BlackRock in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,311.06.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $454 million in a single day, accounting for most of the $731 million flowing into U.S. spot Bitcoin ETFs. Continued institutional demand could increase BlackRock’s digital-asset assets under management and fee revenue. Bitcoin Spot ETFs See Huge Inflows as BlackRock Takes Lead
• Positive Sentiment: An updated valuation model raised BlackRock’s estimated fair value to $1,320.81 per share from $1,314.44, reinforcing the view that the company’s earnings beat, inflows and margins support additional upside. BlackRock Stock Gets Fair Value Bump
• Positive Sentiment: BlackRock is seeking to allocate roughly 5% to 20% of target-date funds to private assets, potentially opening a large distribution channel for private equity and private credit products. BlackRock Wants Private Assets in Target-Date Funds
• Positive Sentiment: BlackRock’s support for corporate reincorporation in Texas and its broader tokenization expansion through Securitize could strengthen its positioning in business-friendly and digital-finance markets. BlackRock Casts a Vote of Confidence in Texas

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.