Kestra Advisory Services LLC Purchases 1,302 Shares of BlackRock $BLK

Kestra Advisory Services LLC grew its position in shares of BlackRock (NYSE:BLK) by 3.8% in the third quarter, HoldingsChannel reports. The firm owned 35,425 shares of the asset manager’s stock after buying an additional 1,302 shares during the quarter. Kestra Advisory Services LLC’s holdings in BlackRock were worth $37,490,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BLK. BlackRock Inc. purchased a new stake in shares of BlackRock in the second quarter worth about $9,747,857,000. Bank of America Corp DE purchased a new position in BlackRock during the 2nd quarter valued at approximately $4,409,095,000. Santa Clara Valley Transportation Authority purchased a new position in BlackRock during the 2nd quarter valued at approximately $129,138,253,000. Wellington Management Group LLP increased its stake in BlackRock by 23.3% in 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 acquiring an additional 850,406 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in BlackRock in the 2nd quarter worth approximately $807,039,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on BlackRock from $1,468.00 to $1,531.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. UBS Group raised their target price on shares of BlackRock from $1,277.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $1,435.00 to $1,449.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Barclays reduced their price target on shares of BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Finally, Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. One 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. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,342.25.

BlackRock Trading Up 0.7%

BLK traded up $7.65 on Friday, hitting $1,178.32. The company had a trading volume of 521,271 shares, compared to its average volume of 691,463. The company has a market cap of $182.49 billion, a PE ratio of 26.79, a PEG ratio of 1.21 and a beta of 1.37. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,242.12. 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 business’s fifty day simple moving average is $1,104.90 and its 200 day simple moving average is $1,065.48.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations 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. Equities research analysts expect that BlackRock will post 57.82 EPS for the current year.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock executives described potential shifts in equity markets and opportunities in AI-related debt financing. The company also said political changes following the U.S. midterms will not alter its crypto strategy, signaling continuity in its digital-asset plans. Rieder on equity rebalancing BlackRock’s crypto strategy
• Positive Sentiment: Preqin, BlackRock’s private-markets data business, is partnering with an AI-powered capital-introduction platform. The collaboration may extend the reach of its institutional data offering, though the financial impact is not specified. Preqin and iConnections collaboration
• Neutral Sentiment: Larry Fink argued that workers have fallen behind investors, prompting discussion of pay, investment returns and market ownership. This is a broader economic commentary rather than a direct update on BlackRock’s earnings or outlook. Larry Fink on workers and investors
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) continued to see withdrawals even as some reports described a rebound in overall crypto ETF flows. Further outflows could pressure fund assets and related fee revenue, although the reports do not quantify a material effect on BlackRock’s overall results. BlackRock ETF withdrawals

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world.

BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.

The company also provides Aladdin, a technology platform used by investors and financial institutions for portfolio management, operations and risk analysis.