Saudi Central Bank Has $9.94 Million Position in BlackRock $BLK

Saudi Central Bank lifted its stake in BlackRock (NYSE:BLK) by 89.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,332 shares of the asset manager’s stock after buying an additional 4,892 shares during the period. Saudi Central Bank’s holdings in BlackRock were worth $9,935,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC increased its position in shares of BlackRock by 11.4% during the second quarter. Angeles Wealth Management LLC now owns 1,358 shares of the asset manager’s stock valued at $1,306,000 after purchasing an additional 139 shares during the period. Compass Financial Management LLC bought a new position in BlackRock in the second quarter worth $113,000. NBH Bank acquired a new stake in BlackRock during the second quarter worth $2,234,000. AlphaGrep UK Ltd bought a new stake in BlackRock in the 2nd quarter valued at $803,000. Finally, Maloon Powers Pitre Higgins & Dennehy LLC bought a new stake in BlackRock in the 2nd quarter valued at $250,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock News Roundup

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

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Bank of America lifted their target price on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Evercore reissued an “outperform” rating and issued a $1,260.00 price target on shares of BlackRock in a research report on Monday, August 10th. Morgan Stanley raised their price target on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Barclays upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,311.06.

BlackRock Stock Down 0.4%

BLK opened at $1,121.85 on Friday. The firm 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. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The firm’s 50-day simple moving average is $1,092.75 and its 200-day simple moving average is $1,049.39. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly 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 firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the firm posted $12.05 EPS. Equities research analysts anticipate that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be paid a $5.73 dividend. The ex-dividend date 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 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.