Haverford Trust Co Invests $264.50 Million in BlackRock $BLK

by · The Markets Daily

Haverford Trust Co purchased a new stake in shares of BlackRock (NYSE:BLK – Free Report) during the second quarter, HoldingsChannel.com reports. The firm purchased 275,074 shares of the asset manager’s stock, valued at approximately $264,500,000. BlackRock accounts for 2.3% of Haverford Trust Co’s portfolio, making the stock its 12th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Oakworth Capital Inc. grew its position in shares of BlackRock by 1.2% in the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock worth $808,000 after buying an additional 9 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in BlackRock by 5.0% in the fourth quarter. McIlrath & Eck LLC now owns 212 shares of the asset manager’s stock worth $227,000 after buying an additional 10 shares during the period. Manske Wealth Management boosted its position in BlackRock by 3.0% during the 4th quarter. Manske Wealth Management now owns 345 shares of the asset manager’s stock valued at $369,000 after acquiring an additional 10 shares in the last quarter. Gibson Capital LLC grew its holdings in shares of BlackRock by 3.4% during the 4th quarter. Gibson Capital LLC now owns 308 shares of the asset manager’s stock worth $330,000 after acquiring an additional 10 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in shares of BlackRock by 4.5% in the 4th quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager’s stock worth $246,000 after acquiring an additional 10 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

More 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%

BlackRock stock opened at $1,157.28 on Friday. 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 has a one year low of $917.39 and a one year high of $1,219.94. The stock has a market capitalization of $179.23 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42. The business’s fifty day moving average is $1,067.74 and its 200 day moving average is $1,044.23.

BlackRock (NYSE:BLK – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the previous year, the business posted $12.05 earnings per share. On average, sell-side analysts predict that BlackRock will post 55.86 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be issued a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s dividend payout ratio is presently 54.78%.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. BNP Paribas Exane upped their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods downgraded shares of BlackRock from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 7th. Zacks Research raised BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Barclays upped their price target on BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Bank of America lifted their price objective on BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $1,311.06.

View Our Latest Stock Report on BLK

BlackRock Company Profile

(Free Report)

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.

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