Davis Asset Management L.P. Makes New $2.02 Million Investment in BlackRock $BLK

Davis Asset Management L.P. purchased a new stake in BlackRock (NYSE:BLK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,100 shares of the asset manager’s stock, valued at approximately $2,019,000.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. BlackRock Inc. bought a new position in shares of BlackRock during the second quarter worth about $9,747,857,000. Corient Private Wealth LLC lifted its stake in BlackRock by 5,190.3% in the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares in the last quarter. Norges Bank acquired a new position in BlackRock during the 4th quarter worth approximately $2,742,680,000. Santa Clara Valley Transportation Authority acquired a new position in BlackRock during the 2nd quarter worth approximately $129,138,253,000. Finally, Auto Owners Insurance Co grew its stake in shares of BlackRock by 106,934.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock worth $128,441,000 after acquiring an additional 1,283,208 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. UBS Group raised their target price on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings lowered shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group restated a “buy” rating and set a $1,389.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. Finally, Keefe, Bruyette & Woods cut BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $1,311.06.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Bitcoin ETF demand could support fee revenue. BlackRock’s iShares Bitcoin Trust led recent U.S. spot Bitcoin ETF inflows, including $284.7 million in one session and $588.5 million over three days. Continued cryptocurrency demand could increase assets under management and fee income. Bitcoin ETF Inflows Hit $517M While BTC Tests Key Resistance
• Positive Sentiment: Dividend appeal is drawing investor attention. A recent analysis describes BlackRock as an attractive dividend stock, reinforcing the company’s appeal to income-oriented investors after its latest quarter exceeded expectations on both earnings and revenue. Why BlackRock Is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock continues deploying capital and expanding alternative-asset exposure. The firm and Oaktree seized debt-laden movie servicer MBS, highlighting potential opportunities in distressed and private credit markets, though such investments also carry execution risk. BlackRock, Oaktree Seize Debt-Laden Movie Servicer MBS
• Neutral Sentiment: Large Qiagen stake creates potential strategic upside but adds concentration risk. Dutch regulatory filings show BlackRock owns roughly 11.5% of Qiagen’s capital and more than 12% of its voting rights. The holding demonstrates significant investment activity, but the filings do not indicate a change in BlackRock’s operating outlook. BlackRock Reveals Stake in Qiagen
• Negative Sentiment: A law firm’s investigation remains an overhang. Rosen Law Firm is seeking investors who may have suffered losses in BlackRock mutual funds amid allegations that business information was materially misleading. This is only an investigation announcement, not a finding of wrongdoing, but it could create reputational and legal risk. BlackRock Investor News

BlackRock Trading Up 1.5%

NYSE BLK opened at $1,157.28 on Friday. The company has a market cap of $179.23 billion, a PE ratio of 27.66, a PEG ratio of 1.30 and a beta of 1.42. 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 has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a 50 day moving average of $1,067.74 and a 200-day moving average of $1,044.23.

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 business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the company earned $12.05 earnings per share. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) 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.