BlackRock $BLK Shares Bought by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC increased its stake in shares of BlackRock (NYSE:BLK) by 411.5% in the third quarter, Holdings Channel.com reports. The firm owned 2,808 shares of the asset manager’s stock after buying an additional 2,259 shares during the quarter. Stokes Capital Advisors LLC’s holdings in BlackRock were worth $2,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of BlackRock during the second quarter worth $9,747,857,000. Corient Private Wealth LLC lifted its stake in shares of BlackRock by 5,190.3% in the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of BlackRock during the 2nd quarter valued at $4,409,095,000. Santa Clara Valley Transportation Authority bought a new stake in BlackRock during the 2nd quarter worth $129,138,253,000. Finally, Auto Owners Insurance Co grew its position in BlackRock by 106,934.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock worth $128,441,000 after acquiring an additional 1,283,208 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock News Roundup

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

Analysts Set New Price Targets

BLK has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on 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. Bank of America lifted their target price on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Finally, Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. One investment 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, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,304.24.

BlackRock Stock Performance

Shares of BLK opened at $1,081.27 on Friday. 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 has a market capitalization of $167.46 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.41. The firm’s fifty day simple moving average is $1,109.77 and its two-hundred day simple moving average is $1,058.29. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, September 8th. BlackRock’s payout ratio is presently 54.78%.

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.