TORONTO, June 18, 2024 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the June 2024 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly, quarterly, or semi-annual basis. Unitholders of record of a fund on June 25, 2024 will receive cash distributions payable in respect of that fund on June 28, 2024. Details regarding the “per unit” distribution ...

The latest trading session saw BlackRock (BLK) ending at $781.08, denoting a +1.53% adjustment from its last day's close. This change outpaced the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 0.95%.The investment firm's stock has dropped by 5.28% in the past month, falling short of the Finance sector's loss of 1.72% and the S&P 500's gain of 3.71%.The upcoming earnings release of BlackRock will be of great interest to investors. In that report, ...

In this articleGSBDMSBLKBXU.S. President Joe Biden greets members of the U.S. Border Patrol at the U.S.-Mexico border in Brownsville, Texas, U.S., February 29, 2024. Kevin Lamarque | ReutersImmigration — both authorized and unauthorized — has helped the U.S. job market sustain a fiery run in recent months without reigniting inflation, economists and analysts say. The effect has been a favorable, though uncertain, situation for President Joe Biden ahead of the November election.A blockbuster May jobs report ...

Boaz Weinstein, founder and chief investment officer of Saba Capital Management, during the Bloomberg Invest event in New York, US, on Wednesday, June 7, 2023.Dissident Boaz Weinstein's Saba Capital picked up support in its campaign for change at some BlackRock closed-end funds from proxy advisor Institutional Shareholder Services.Saba has mounted a campaign to elect its own director nominees to the boards of ten BlackRock closed-end funds, accusing the investing giant of mismanagement as the funds trade at ...

US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020.Former President Donald Trump will address some of the world's most powerful corporate leaders on Thursday, albeit with some notable absences.In addition to Trump, President Joe Biden's chief of staff Jeff Zients will speak to the C ...

BlackRock Inc.’s (BLK) Japan unit plans to boost its investment offerings to cater to the needs of overseas clients. This move aligns with the company’s organic growth strategy of product expansion.Hiroyuki Arita, CEO of BlackRock Japan, said in an interview with Bloomberg that since last year, the company has increased the headcount of portfolio managers, analysts and other personnel associated with active management of Japan equities by roughly 20% in order to attract foreign funds.At present, the Japan u ...

Impressively, BlackRock (NYSE:BLK) was founded in 1988 in New York. So, this iconic company is likely younger than many people reading this article. However, impressively, BlackRock’s total assets under management crossed $10 trillion back in 2021. This number has stayed relatively stable since. But this sort of growth has caused many to envision BlackRock as some sort of enigmatic entity that controls everything. That’s generally a far-fetched view of the company, but I do think BlackRock’s buying activity ...

Participation notification by BlackRock Inc. Brussels, Belgium – June 12, 2024 - 8:30 CESTAccording to Belgian transparency legislation (Law of May 2, 2007), BlackRock Inc. (12 Throgmorton Avenue, London EC2N 2DL, UK) recently sent Syensqo the following transparency notifications indicating that it crossed the threshold of 3%. Here is the summary of the moves: Date on which the threshold was crossed Voting rights after the transaction Equivalent financial instruments after the transaction Total June 6 ...

The most recent trading session ended with BlackRock (BLK) standing at $766.17, reflecting a -0.33% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.26%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.35%.The investment firm's shares have seen a decrease of 3.51% over the last month, not keeping up with the Finance sector's gain of 0.75% and the S&P 500's gain of 3.25%.Investors will be eagerly watching for the performance ...

Core Viewpoint - BlackRock TCP Capital has completed the acquisition of BlackRock Capital Investment, resulting in a larger and more diversified business development company (BDC) with a distinct first lien strategy. However, the shares have seen significant revaluation, leading to limited upside potential for FY 2024 [2][15]. Financial Performance - In Q1 2024, BlackRock TCP Capital generated $28.3 million in net investment income, reflecting a 9% year-over-year growth, primarily driven by higher interest income from variable rate investments [8]. - The company reported a distribution coverage ratio of 132% in Q1 2024, supported by a consistent net investment income, with previous ratios of 138% in FY 2023 and 125% in FY 2022 [10]. Portfolio Composition - Post-merger, BlackRock TCP Capital manages a $2.1 billion investment portfolio, with 80% in first liens and 11% in second liens, resulting in approximately 91% of investments being secured lending [4]. - The company has a relatively high non-accrual percentage of 1.7% as of March 2024, down from 2.0% at the end of FY 2023, which raises concerns about trading at a premium to net asset value [7]. Valuation Insights - The net asset value (NAV) per share at the end of March 2024 was $11.14, showing a 6% quarter-over-quarter decline due to unrealized investment losses. The shares are currently trading at a 2% premium to NAV [12]. - The historical average price-to-NAV ratio for the company was 0.93X, and the current valuation suggests limited upside potential, especially considering the high non-accrual ratio [13]. Market Outlook - The Federal Reserve is expected to lower the federal fund rate, which could negatively impact BDCs heavily invested in variable rate loans. This change in interest rate trajectory may limit future net investment income growth [4][8]. - Despite the healthy distribution coverage, the overall valuation of BlackRock TCP Capital appears to be fair, with limited upside potential in the current market environment [15].