589 Shares of BlackRock $BLK Bought by Sound Income Strategies LLC

Sound Income Strategies LLC purchased a new position in shares of BlackRock (NYSE:BLK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 589 shares of the asset manager’s stock, valued at approximately $628,000.

Other hedge funds also recently bought and sold shares of the company. RMG Wealth Management LLC purchased a new position in BlackRock in the 1st quarter worth approximately $25,000. Addison Advisors LLC acquired a new stake in shares of BlackRock in the second quarter valued at approximately $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in BlackRock during the second quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in BlackRock during the second quarter worth approximately $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in BlackRock during the fourth quarter worth $36,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded BlackRock from “hold” to “moderate buy,” providing a fresh positive analyst signal. The upgrade likely reflects confidence in BlackRock’s earnings outlook and long-term asset-management growth. BlackRock analyst upgrade reference
• Positive Sentiment: Expectations for the upcoming third-quarter report are constructive. Analysts anticipate higher revenue, earnings and assets under management, while BlackRock’s strong earnings-surprise history and favorable Earnings ESP support the possibility of another consensus beat. BlackRock earnings beat outlook
• Positive Sentiment: Record assets under management, strategic acquisitions and demand for BlackRock’s products continue to support the growth narrative. The company’s recent earnings also showed substantial year-over-year revenue growth and a sizable EPS beat, reinforcing fundamental momentum. BlackRock growth and valuation analysis
• Neutral Sentiment: BlackRock disclosed a substantial voting stake in Qiagen (QGEN). The filing confirms an ownership position but does not, by itself, indicate a material change to BlackRock’s operating outlook. BlackRock voting stake in Qiagen
• Negative Sentiment: Valuation is a key risk after BlackRock’s multiyear share-price advance. Commentary describes the stock as fairly valued or trading at a premium, meaning additional gains may require continued improvement in returns, AUM and earnings. BlackRock valuation analysis
• Negative Sentiment: Expected increases in operating expenses and potentially lower performance fees could offset some of the benefit from higher revenue, earnings and AUM. Separately, substantial outflows from U.S. spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, may weigh on sentiment toward its digital-assets franchise. BlackRock third-quarter earnings risks

BlackRock Price Performance

NYSE:BLK opened at $1,081.27 on Friday. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. 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 company has a market capitalization of $167.46 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.20 and a beta of 1.41. The stock’s fifty day moving average is $1,109.77 and its two-hundred day moving average is $1,058.29.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. The company’s revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business posted $12.05 EPS. Equities analysts expect that BlackRock will post 55.71 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were paid a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is 54.78%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $1,364.00 to $1,435.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company dropped their price objective on shares of BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley cut their price objective on shares of BlackRock from $1,488.00 to $1,479.00 and set an “overweight” rating for the company in a research report on Friday, September 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a research note on Thursday, July 16th. 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,304.24.

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.