BlackRock $BLK Shares Purchased by IFP Advisors Inc

IFP Advisors Inc increased its stake in shares of BlackRock (NYSE:BLK) by 109.1% during the 3rd quarter, Holdings Channel reports. The fund owned 10,675 shares of the asset manager’s stock after purchasing an additional 5,570 shares during the quarter. IFP Advisors Inc’s holdings in BlackRock were worth $11,297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in BlackRock in the second quarter valued at approximately $9,747,857,000. Bank of America Corp DE purchased a new stake in BlackRock in the 2nd quarter worth approximately $4,409,095,000. Santa Clara Valley Transportation Authority acquired a new stake in shares of BlackRock during the 2nd quarter worth approximately $129,138,253,000. Auto Owners Insurance Co grew its stake in shares of 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 purchasing an additional 1,283,208 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of BlackRock by 23.3% during the 2nd quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock worth $4,322,283,000 after purchasing an additional 850,406 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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

Analyst Ratings Changes

Several research firms have recently weighed in on BLK. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday. Evercore reissued an “outperform” rating and set a $1,275.00 price target on shares of BlackRock in a report on Friday, October 9th. TD Cowen increased their price target on shares of BlackRock from $1,190.00 to $1,212.00 and gave the stock a “hold” rating in a report on Monday, October 12th. Truist Financial set a $1,310.00 price target on shares of BlackRock in a research report on Thursday. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,312.06.

BlackRock Stock Performance

NYSE BLK opened at $1,133.07 on Friday. The stock has a market capitalization of $175.48 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.25 and a beta of 1.41. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,187.17. 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 50-day moving average of $1,106.23 and a 200 day moving average of $1,062.85.

BlackRock (NYSE:BLK) last issued its quarterly earnings results 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 return on equity of 16.08% and a net margin of 24.22%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the business posted $8.43 earnings per share. BlackRock’s revenue for the quarter was up 19.1% on a year-over-year basis. Sell-side analysts anticipate that BlackRock will post 57.47 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were paid a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s dividend payout ratio is presently 52.11%.

BlackRock 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.