Heritage Investors Management Corp Sells 1,006 Shares of BlackRock $BLK

Heritage Investors Management Corp lessened its position in BlackRock (NYSE:BLK) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 39,096 shares of the asset manager’s stock after selling 1,006 shares during the period. BlackRock makes up about 1.2% of Heritage Investors Management Corp’s holdings, making the stock its 22nd largest position. Heritage Investors Management Corp’s holdings in BlackRock were worth $41,375,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stronghold Wealth Management L.L.C. grew its position in BlackRock by 2.9% in the 1st quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 10 shares during the period. Financial Management Professionals Inc. increased its stake in BlackRock by 1.8% during the 2nd quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager’s stock valued at $542,000 after purchasing an additional 10 shares in the last quarter. JNBA Financial Advisors raised its holdings in BlackRock by 1.4% during the second quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock worth $679,000 after buying an additional 10 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in BlackRock by 0.8% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager’s stock worth $1,275,000 after buying an additional 10 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in shares of BlackRock by 2.9% in the third quarter. Revolve Wealth Partners LLC now owns 360 shares of the asset manager’s stock valued at $381,000 after buying an additional 10 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLK. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Wells Fargo & Company upped their target price on shares of BlackRock from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Bank of America lowered their target price on shares of BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. BNP Paribas Exane raised their price target on shares of BlackRock from $1,370.00 to $1,430.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,315.00 to $1,355.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,342.25.

BlackRock News Roundup

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 Up 0.0%

BLK opened at $1,147.61 on Monday. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,187.17. The firm has a market capitalization of $177.73 billion, a P/E ratio of 26.09, a PEG ratio of 1.19 and a beta of 1.37. The company’s 50-day moving average is $1,103.88 and its 200 day moving average is $1,064.04. 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 analysts’ consensus estimates of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the firm posted $8.43 EPS. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. Research analysts expect that BlackRock will post 57.82 earnings per share for the current fiscal year.

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.