QRG Capital Management Inc. Increases Position in BlackRock $BLK

by · The Markets Daily

QRG Capital Management Inc. boosted its holdings in shares of BlackRock (NYSE:BLK – Free Report) by 709.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,147 shares of the asset manager’s stock after purchasing an additional 88,652 shares during the quarter. BlackRock makes up 0.7% of QRG Capital Management Inc.’s holdings, making the stock its 27th largest position. QRG Capital Management Inc. owned about 0.07% of BlackRock worth $97,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. BlackRock Inc. purchased a new position in BlackRock during the second quarter valued at $9,747,857,000. State Street Corp increased its stake in shares of BlackRock by 0.5% during the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of 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 worth $5,876,618,000 after purchasing an additional 5,386,640 shares during the last quarter. Temasek Holdings Private Ltd lifted its stake in BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after buying an additional 237,667 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in BlackRock by 0.7% in the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock worth $5,032,603,000 after buying an additional 35,069 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods lowered BlackRock from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings lowered BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. BMO Capital Markets boosted their price target on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Morgan Stanley increased their price objective on BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, UBS Group raised their price objective on BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,311.06.

Read Our Latest Stock Analysis on BlackRock

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

  • Positive Sentiment: BlackRock’s IBIT spot Bitcoin ETF reportedly attracted approximately $381 million during a record nearly $1 billion day of inflows across U.S. Bitcoin ETFs. Strong demand could support fee revenue and reinforce BlackRock’s position in digital-asset markets. Bitcoin ETFs Record Nearly $1 Billion in Single-Day Inflows
  • Positive Sentiment: BlackRock research argues that AI agents could drive demand for stablecoins, blockchain-based payment rails and tokenized computing capacity. If adoption accelerates, the trend could create new opportunities across BlackRock’s ETFs, digital-asset products and private-market businesses. AI Potential to Drive Crypto Demand
  • Positive Sentiment: The firm launched a lower-cost ETF tracking the same index as Invesco’s QQQ, potentially helping BlackRock capture assets from competing Nasdaq-100 products and expand its ETF franchise. BlackRock Launches Lower-Cost QQQ Alternative
  • Neutral Sentiment: BlackRock increased its reported stake in Qiagen to approximately 11.47%. The disclosure reflects a sizable investment but does not materially change BLK’s operating outlook because it is likely an investment-management holding. BlackRock Builds Stake in Qiagen
  • Negative Sentiment: BlackRock strategist Gargi Chaudhuri said higher oil prices and stronger U.S. business activity are fueling inflation and Federal Reserve rate-hike concerns. The resulting decline in stocks and bonds is the clearest near-term pressure on BLK, potentially affecting assets under management, performance fees and investor risk appetite. Stocks and Bonds Slip as Oil Jumps

BlackRock Price Performance

BLK traded down $4.92 during trading on Wednesday, reaching $1,061.74. The company’s stock had a trading volume of 460,708 shares, compared to its average volume of 755,528. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $1,110.26 and a two-hundred day simple moving average of $1,048.96. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The company has a market cap of $164.43 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.20 and a beta of 1.41.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $7.08 billion during 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 business’s revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business earned $12.05 earnings per share. As a group, analysts anticipate that BlackRock will post 55.96 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 8th. BlackRock’s payout ratio is currently 54.78%.

About BlackRock

(Free Report)

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.

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