BlackRock $BLK Stock Purchased by Granite Islands Private Wealth LLC

Granite Islands Private Wealth LLC boosted its holdings in shares of BlackRock (NYSE:BLK) by 169.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,124 shares of the asset manager’s stock after buying an additional 707 shares during the quarter. Granite Islands Private Wealth LLC’s holdings in BlackRock were worth $1,185,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of BlackRock in the 2nd quarter worth $9,747,857,000. Corient Private Wealth LLC lifted its stake in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after buying an additional 5,386,640 shares during the period. Temasek Holdings Private Ltd lifted its stake in BlackRock by 4.7% in the first 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 during the period. Bank of America Corp DE lifted its stake in BlackRock by 0.7% in the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock valued at $5,032,603,000 after buying an additional 35,069 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in 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 buying an additional 850,406 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,123.32 on Friday. The company has a market capitalization of $173.97 billion, a PE ratio of 25.54, a PEG ratio of 1.21 and a beta of 1.41. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,209.89. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $1,106.32 and its 200 day simple moving average is $1,062.35.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.32 by $1.61. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The company’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $8.43 earnings per share. On average, research analysts predict that BlackRock will post 55.70 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were paid a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s dividend payout ratio is presently 52.11%.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Q3 beat: BlackRock reported adjusted EPS of $15.93, above the $14.32 consensus, while revenue rose 19.1% year over year to $7.75 billion, ahead of the $7.42 billion estimate. BlackRock Q3 earnings report
• Positive Sentiment: Record inflows and AUM: The firm attracted approximately $205 billion in quarterly net inflows, helping assets under management reach about $15.5 trillion. Strong demand for iShares ETFs, fixed-income products and private-market strategies supports recurring fee growth. BlackRock Q3 profit rises on inflows
• Positive Sentiment: Analysts raised targets: JPMorgan lifted its price target to $1,449 with an overweight rating, while Keefe, Bruyette & Woods raised its target to $1,310 and maintained an outperform rating. Bank of America also reiterated a buy rating and raised its target to $1,313. Analysts raise BlackRock forecasts
• Positive Sentiment: Growth initiatives: Management highlighted AI infrastructure financing, technology revenue, margin expansion and fundraising in private markets as potential drivers of future growth, including a developing opportunity in the compute market. BlackRock earnings call on AI financing
• Neutral Sentiment: Crypto exposure remains mixed: BlackRock’s crypto ETF assets reportedly increased sharply during the quarter, but bitcoin and ether ETFs subsequently recorded roughly $391 million in combined one-day outflows, creating near-term sentiment risk. Bitcoin and Ether ETF flows
• Negative Sentiment: Macro and execution risks: CEO Larry Fink warned that halting data-center construction could damage growth and trigger a recession. BlackRock is also reducing U.S. stock exposure in favor of Treasuries, while UBS expects the firm to exit several 2030 targets early—potentially signaling that some long-term goals may be difficult to achieve. Larry Fink data-center warning

Wall Street Analyst Weigh In

BLK has been the subject of several analyst reports. BNP Paribas Exane boosted their target price on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. BMO Capital Markets increased their price target on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Bank of America lifted their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, Evercore restated an “outperform” rating and set a $1,275.00 price objective on shares of BlackRock in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,312.06.

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.