450 Shares in BlackRock $BLK Purchased by Partners Wealth Management LLC

Partners Wealth Management LLC purchased a new stake in BlackRock (NYSE:BLK) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 450 shares of the asset manager’s stock, valued at approximately $477,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in BlackRock during the second quarter worth $9,747,857,000. Bank of America Corp DE acquired a new stake in shares of BlackRock in the second quarter valued at about $4,409,095,000. Santa Clara Valley Transportation Authority purchased a new stake in shares of BlackRock during the second quarter worth about $129,138,253,000. Wellington Management Group LLP increased its stake in shares of BlackRock by 23.3% during the second quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock worth $4,322,283,000 after purchasing an additional 850,406 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of BlackRock during the 2nd quarter worth about $807,039,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on BLK shares. Morgan Stanley raised their price target on shares of BlackRock from $1,468.00 to $1,531.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $1,341.00 price objective on shares of BlackRock in a report on Wednesday. Truist Financial set a $1,310.00 price objective on BlackRock in a research note on Thursday, October 15th. Bank of America reduced their target price on BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. Finally, Weiss Ratings downgraded BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,342.25.

BlackRock Trading Down 2.4%

Shares of BLK opened at $1,147.61 on Friday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,187.17. 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’s fifty day moving average is $1,103.88 and its two-hundred day moving average is $1,064.04. The stock has a market cap of $177.73 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating analysts’ consensus estimates of $14.32 by $1.61. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business earned $8.43 earnings per share. Research analysts forecast that BlackRock will post 57.82 earnings per share for the current fiscal year.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Private-market assets are projected to exceed $34 trillion by 2031, supporting BlackRock’s long-term growth opportunity in private equity, private credit and other alternative investments. Private markets assets forecast to exceed $34tn by 2031, says Preqin
• Positive Sentiment: BlackRock disclosed that its ownership of OMV rose above 5%, indicating increased exposure to the energy company, although the investment’s direct effect on BlackRock’s earnings is likely limited. BlackRock Lifts OMV Stake Above 5% Threshold
• Neutral Sentiment: BlackRock’s closed-end funds announced estimated distribution sources. The disclosure is routine and mainly provides investors with information about income, capital gains and potential return of capital. Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
• Neutral Sentiment: The SEC is reviewing whether existing ETF rules adequately cover newer crypto products beyond bitcoin and ether. Clearer regulation could benefit BlackRock over time, but uncertainty may slow product development in the near term. Crypto ETFs Already Go Far Beyond Bitcoin. The SEC Wants to Know If Its Rules Have Kept Up
• Negative Sentiment: A reported $6.3 billion Binance security breach triggered a crypto-market shock, sending BlackRock’s iShares Bitcoin Trust (IBIT) lower. Falling crypto prices can reduce ETF assets under management and fee revenue while damaging sentiment toward BlackRock’s digital-asset expansion. Binance’s $6.3B Hack Sends Bitcoin ETF Tumbling 5%

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.