BlackRock $BLK Stake Increased by Brighton Jones LLC

Brighton Jones LLC grew its holdings in BlackRock (NYSE:BLK) by 23.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,290 shares of the asset manager’s stock after buying an additional 810 shares during the quarter. Brighton Jones LLC’s holdings in BlackRock were worth $4,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BLK. Santa Clara Valley Transportation Authority acquired a new position in BlackRock during the 2nd quarter worth about $129,138,253,000. BlackRock Inc. acquired a new stake in BlackRock in the 2nd quarter valued at about $9,747,857,000. Temasek Holdings Private Ltd increased its position in BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after acquiring an additional 237,667 shares in the last quarter. Bank of America Corp DE raised its stake in shares of 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 worth $5,032,603,000 after acquiring an additional 35,069 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of BlackRock by 23.3% in 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 acquiring an additional 850,406 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock executives described potential shifts in equity markets and opportunities in AI-related debt financing. The company also said political changes following the U.S. midterms will not alter its crypto strategy, signaling continuity in its digital-asset plans. Rieder on equity rebalancing BlackRock’s crypto strategy
• Positive Sentiment: Preqin, BlackRock’s private-markets data business, is partnering with an AI-powered capital-introduction platform. The collaboration may extend the reach of its institutional data offering, though the financial impact is not specified. Preqin and iConnections collaboration
• Neutral Sentiment: Larry Fink argued that workers have fallen behind investors, prompting discussion of pay, investment returns and market ownership. This is a broader economic commentary rather than a direct update on BlackRock’s earnings or outlook. Larry Fink on workers and investors
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) continued to see withdrawals even as some reports described a rebound in overall crypto ETF flows. Further outflows could pressure fund assets and related fee revenue, although the reports do not quantify a material effect on BlackRock’s overall results. BlackRock ETF withdrawals

Wall Street Analysts Forecast Growth

Several analysts have recently commented 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 company a “buy” rating in a research note on Thursday, October 15th. Bank of America dropped their price objective on shares of BlackRock from $1,320.00 to $1,287.00 in a research report on Monday, October 5th. UBS Group upped their price objective on BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $1,341.00 target price on shares of BlackRock in a research note on Wednesday, October 28th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,342.25.

BlackRock Trading Down 0.0%

BLK opened at $1,178.32 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market cap of $182.49 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37. The firm has a 50 day simple moving average of $1,104.90 and a 200 day simple moving average of $1,065.48. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,242.12.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, beating the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 15.60%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the prior year, the business posted $8.43 earnings per share. BlackRock’s revenue was up 19.1% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock will post 57.82 earnings per share for the current year.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world.

BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.

The company also provides Aladdin, a technology platform used by investors and financial institutions for portfolio management, operations and risk analysis.