944 BlackRock $BLK Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its stake in BlackRock (NYSE:BLK) by 23.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,099 shares of the asset manager’s stock after selling 944 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in BlackRock were worth $3,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Breakwater Capital Group increased its stake in BlackRock by 3.8% during the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock valued at $261,000 after buying an additional 10 shares during the period. Stronghold Wealth Management L.L.C. raised its position in shares of BlackRock by 2.9% during the 1st quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock worth $345,000 after buying an additional 10 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in shares of BlackRock by 1.8% in the 2nd quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager’s stock worth $542,000 after acquiring an additional 10 shares during the period. JNBA Financial Advisors lifted its stake in shares of BlackRock by 1.4% in the 2nd quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock worth $679,000 after acquiring an additional 10 shares during the period. Finally, McGlone Suttner Wealth Management Inc. lifted its stake in shares of BlackRock by 0.8% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager’s stock worth $1,275,000 after acquiring an additional 10 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of BlackRock from $1,222.00 to $1,260.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. BNP Paribas Exane boosted their target price on BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Truist Financial set a $1,310.00 target price on BlackRock in a report on Thursday, October 15th. Weiss Ratings downgraded BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group decreased their price target on BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,337.19.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Analyst upgrade and higher valuation: TD Cowen upgraded BlackRock to Buy and set a $1,405 price target, citing a potential third-quarter earnings inflection and improving growth outlook. BlackRock raised to Buy at TD Cowen
• Positive Sentiment: Assets under management reached $15.49 trillion, up 15% year over year. Robust inflows and market appreciation could support fee revenue and earnings, building on BlackRock’s previously reported quarterly revenue and EPS beat. BlackRock Q3 assets under management
• Positive Sentiment: ETF momentum remains strong. BlackRock launched the actively managed iShares Future Robotics and Related Technologies ETF (RBTX), expanding its artificial-intelligence product lineup. Its Bitcoin ETF, IBIT, also recorded approximately $665 million in one-day inflows, highlighting continued investor preference for BlackRock’s digital-asset platform. BlackRock introduces robotics ETF US Bitcoin ETF inflows
• Neutral Sentiment: BlackRock is broadening its product range with a proposed buffered Bitcoin ETF, PBIT, designed to limit losses in exchange for capped gains. The filing could attract more conservative investors, although the fund has not yet launched and fees and protection terms remain uncertain. BlackRock Bitcoin managed protection ETF
• Negative Sentiment: CEO Larry Fink warned that delays or opposition to AI data-center construction could raise computing costs, fuel inflation and weaken economic growth, potentially creating recession risk. Larry Fink data-center recession warning

BlackRock Price Performance

Shares of BlackRock stock opened at $1,148.23 on Thursday. 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 company’s 50-day moving average price is $1,105.51 and its two-hundred day moving average price is $1,067.39. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,187.17. The stock has a market cap of $177.83 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, beating analysts’ consensus estimates of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the company earned $8.43 EPS. BlackRock’s revenue was up 19.1% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock will post 57.47 EPS for the current fiscal year.

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.