Compass Wealth Management LLC Invests $3.29 Million in BlackRock $BLK

Compass Wealth Management LLC bought a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, Holdings Channel.com reports. The fund bought 3,423 shares of the asset manager’s stock, valued at approximately $3,291,000.

A number of other hedge funds have also recently made changes to their positions in the stock. RMG Wealth Management LLC purchased a new stake in BlackRock in the 1st quarter valued at about $25,000. Evolution Wealth Management Inc. bought a new position in BlackRock in the 4th quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in shares of BlackRock during the second quarter worth approximately $30,000. Birchbrook Inc. bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $31,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $32,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Morgan Stanley lifted their target price on BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Bank of America increased their price target on BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Barclays raised their price target on BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. 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’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Buy” and a consensus target price of $1,311.06.

BlackRock Trading Up 0.8%

Shares of NYSE BLK opened at $1,155.78 on Wednesday. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The business has a fifty day moving average price of $1,059.83 and a 200 day moving average price of $1,043.05. The stock has a market capitalization of $179.00 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.69 by $1.22. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $12.05 earnings per share. Equities research analysts expect that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. BlackRock’s payout ratio is presently 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.