Diversify Advisory Services LLC Acquires New Shares in BlackRock $BLK

Diversify Advisory Services LLC purchased a new stake in shares of BlackRock (NYSE:BLK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,153 shares of the asset manager’s stock, valued at approximately $2,287,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in BlackRock in the 2nd quarter worth approximately $9,747,857,000. Corient Private Wealth LLC raised its stake in BlackRock by 5,190.3% during 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 $2,742,680,000. Auto Owners Insurance Co grew its stake in shares of BlackRock by 106,934.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock worth $128,441,000 after purchasing an additional 1,283,208 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of BlackRock by 200.5% in the fourth quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager’s stock worth $1,553,194,000 after purchasing an additional 968,245 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BLK. UBS Group upped their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,258.00 price objective on shares of BlackRock in a report on Thursday, July 16th. Morgan Stanley upped their target price on BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, BMO Capital Markets increased their price target on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $1,311.06.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,155.78 on Wednesday. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average of $1,059.83 and a two-hundred day moving average of $1,043.05. The company has a market capitalization of $179.00 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.32 and a beta of 1.42.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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. 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 quarter in the previous year, the company posted $12.05 EPS. The business’s revenue was up 30.6% compared to the same quarter last year. As a group, analysts expect that BlackRock will post 55.63 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.0%. BlackRock’s payout ratio is 54.78%.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin’s Investment Case Hasn’t Changed, BlackRock Says
• Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
• Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
• Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
• Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk

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.