BlackRock $BLK Shares Sold by Junto Capital Management LP

Junto Capital Management LP reduced its holdings in shares of BlackRock (NYSE:BLK) by 11.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,886 shares of the asset manager’s stock after selling 19,187 shares during the quarter. BlackRock makes up about 2.4% of Junto Capital Management LP’s portfolio, making the stock its 9th biggest holding. Junto Capital Management LP’s holdings in BlackRock were worth $136,432,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BLK. Brighton Jones LLC boosted its position in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the period. Bison Wealth LLC raised its position in shares of BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after purchasing an additional 17 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of BlackRock during the 2nd quarter worth about $259,000. Nebula Research & Development LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth about $548,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of BlackRock during the 2nd quarter worth about $98,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Bank of America raised their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. BMO Capital Markets boosted their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. UBS Group upped their target price on BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,311.06.

BlackRock Price Performance

NYSE:BLK opened at $1,072.98 on Thursday. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The firm has a market cap of $166.17 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.21 and a beta of 1.41. The firm’s 50-day simple moving average is $1,100.73 and its 200 day simple moving average is $1,049.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating 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 firm 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 posted $12.05 EPS. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Announces Dividend

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

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock-managed funds are participating in a roughly $1 billion primary equity investment in Adani Airport Holdings alongside Temasek, Alpha Wave Global and Premji Invest. The capital will support airport expansion, modernization and related real-estate projects, highlighting BlackRock’s ability to deploy capital into large infrastructure opportunities. Adani Airports to raise approximately $1 billion of primary equity
• Positive Sentiment: BlackRock’s iShares investment strategy chief said artificial intelligence remains a long-term opportunity following strong second-quarter earnings across the sector. Continued investor demand for AI-focused ETFs could support iShares asset flows and fee revenue. What comes next for ETF investors in the AI trade
• Positive Sentiment: BlackRock was reported as an investor in French AI startup Mistral AI’s €3 billion Series D funding round. The investment increases BlackRock’s exposure to a high-growth technology theme, although the financial effect on BLK is likely limited relative to its overall business. Mistral AI raises €3 billion in Samsung-led Series D round
• Neutral Sentiment: BlackRock executives discussed investors moving beyond the traditional 60/40 portfolio and the need for Europe to accelerate AI innovation. These trends could create opportunities for alternative investments and thematic products, but the articles do not identify a material near-term earnings impact. Investors are moving away from the 60/40 portfolio mix
• Neutral Sentiment: BlackRock also participated in Rentomojo’s Indian IPO anchor round. The investment expands its emerging-market exposure but is unlikely to materially affect consolidated results. Rentomojo IPO anchor round
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have issued materially misleading business information. The announcement does not establish wrongdoing, but it adds litigation and reputational risk and is the clearest negative catalyst in the recent news flow. Rosen Law Firm investigation of BlackRock mutual funds

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.