BlackRock $BLK Stock: SteelPeak Wealth LLC Raises Holdings

SteelPeak Wealth LLC grew its holdings in shares of BlackRock (NYSE:BLK) by 5,955.1% in the third quarter, HoldingsChannel.com reports. The fund owned 14,835 shares of the asset manager’s stock after acquiring an additional 14,590 shares during the quarter. SteelPeak Wealth LLC’s holdings in BlackRock were worth $15,700,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Advisors Capital Management LLC acquired a new stake in BlackRock during the second quarter worth approximately $33,847,000. Varma Mutual Pension Insurance Co acquired a new position in BlackRock in the second quarter valued at approximately $28,185,000. Haverford Trust Co acquired a new position in BlackRock in the second quarter valued at approximately $264,500,000. Liberty One Investment Management LLC boosted its holdings in shares of BlackRock by 30.7% during the 1st quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock worth $4,675,000 after buying an additional 1,141 shares in the last quarter. Finally, Basswood Capital Management L.L.C. bought a new position in shares of BlackRock during the 2nd quarter worth approximately $23,122,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BLK. Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial set a $1,310.00 target price on shares of BlackRock in a research report on Thursday. Bank of America boosted their target price on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. BNP Paribas Exane increased their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, Morgan Stanley reduced their price target on shares of BlackRock from $1,479.00 to $1,468.00 and set an “overweight” rating for the company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,312.06.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Q3 results support the rally. BlackRock reported adjusted earnings of $15.93 per share, exceeding the $14.32 consensus estimate, while revenue of $7.75 billion also topped expectations and increased 19.1% year over year. Improved operating income and margins helped ease concerns about profitability. BlackRock Stock Jumps as Q3 Earnings Power Margin Recovery
• Positive Sentiment: Record inflows point to continued organic growth. BlackRock attracted approximately $205 billion in net new client assets during the quarter, lifting assets under management to roughly $15.5 trillion. Broad ETF demand, fixed income, private markets and technology fees are diversifying the company’s revenue base. How Record Inflows at BlackRock Have Changed Its Investment Story
• Positive Sentiment: Analysts raised their expectations. JPMorgan increased its price target to $1,449 and maintained an Overweight rating, while Keefe, Bruyette & Woods raised its target to $1,310 with an Outperform rating. Bank of America also reiterated a Buy rating and lifted its target to $1,313, citing strong earnings and ETF inflows. Analysts Boost Forecasts on BlackRock
• Positive Sentiment: AI infrastructure could create new fee opportunities. Management highlighted financing for data centers and compute infrastructure, along with growth in higher-fee products, as potential longer-term earnings drivers. CEO Larry Fink’s support for continued data-center construction reinforces BlackRock’s positioning in this investment theme. BlackRock Sees Large Opportunity in Developing Compute Market
• Neutral Sentiment: BlackRock disclosed portfolio changes involving stakes in Qiagen, Suzano, Caledonia Mining and Fagron. These transactions demonstrate ongoing investment activity but are not expected to materially affect BLK’s earnings.
• Negative Sentiment: Ethereum ETFs experienced another day of net redemptions, led by BlackRock’s ETHA. Persistent crypto-fund outflows could pressure short-term fee revenue, although the impact is limited relative to BlackRock’s broader platform. Ethereum ETFs See Outflows
• Negative Sentiment: BlackRock faces tougher competition in low-cost Nasdaq-100 ETFs from State Street and other providers, while early inflows remain limited and trading volumes trail the established QQQ product. QQQ vs. Cheaper Nasdaq-100 ETFs

BlackRock Stock Up 1.1%

Shares of NYSE BLK opened at $1,133.07 on Friday. The stock has a market capitalization of $175.48 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.25 and a beta of 1.41. The company has a 50-day moving average price of $1,106.23 and a 200-day moving average price of $1,062.85. BlackRock has a 1 year low of $917.39 and a 1 year 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 posted its earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping the consensus estimate 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 previous year, the firm posted $8.43 earnings per share. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, equities research analysts forecast that BlackRock will post 57.47 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared 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. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock’s payout ratio is 52.11%.

BlackRock Company 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.