BlackRock $BLK Stock: Vise Technologies Inc. Boosts Position

Vise Technologies Inc. lifted its holdings in shares of BlackRock (NYSE:BLK) by 11.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,233 shares of the asset manager’s stock after purchasing an additional 1,513 shares during the quarter. Vise Technologies Inc.’s holdings in BlackRock were worth $15,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. RMG Wealth Management LLC acquired a new position in BlackRock during the first quarter worth $25,000. Addison Advisors LLC purchased a new position in shares of BlackRock during the second quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of BlackRock during the second quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of BlackRock in the second quarter valued at $30,000. Finally, Wilkerson Advisory Group LLC grew its stake in shares of BlackRock by 100.0% in the first quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager’s stock valued at $33,000 after buying an additional 17 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock News Summary

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 Stock Performance

Shares of BlackRock stock opened at $1,147.61 on Monday. The firm’s fifty day simple moving average is $1,103.88 and its 200-day simple moving average is $1,064.04. The stock has a market capitalization of $177.73 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.19 and a beta of 1.37. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,187.17. 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 (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.32 by $1.61. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. BlackRock’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the firm posted $8.43 EPS. As a group, equities analysts forecast that BlackRock will post 57.82 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on BLK shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $1,315.00 to $1,355.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Bank of America reduced their price objective on shares of BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. Evercore restated an “outperform” rating and set a $1,275.00 target price (down from $1,300.00) on shares of BlackRock in a research note on Friday, October 9th. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of BlackRock from $1,435.00 to $1,449.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,342.25.

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.