M Holdings Securities Inc. Purchases 1,476 Shares of BlackRock $BLK

M Holdings Securities Inc. purchased a new stake in BlackRock (NYSE:BLK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,476 shares of the asset manager’s stock, valued at approximately $1,684,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of BlackRock during the second quarter worth $9,747,857,000. Bank of America Corp DE purchased a new stake in shares of BlackRock during the second quarter valued at $4,409,095,000. Santa Clara Valley Transportation Authority purchased a new stake in shares of BlackRock during the second quarter valued at $129,138,253,000. Wellington Management Group LLP lifted its holdings in shares of BlackRock by 23.3% during the second quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock valued at $4,322,283,000 after purchasing an additional 850,406 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of BlackRock in the 2nd quarter valued at $807,039,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BLK shares. Jefferies Financial Group reissued a “buy” rating and issued a $1,341.00 price target on shares of BlackRock in a research note on Wednesday, October 28th. BNP Paribas Exane upped their price objective on shares of BlackRock from $1,370.00 to $1,430.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Weiss Ratings upgraded shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Finally, Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. 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 company’s stock. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,342.25.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,216.17 on Tuesday. The company’s fifty day moving average is $1,105.98 and its two-hundred day moving average is $1,065.92. The company has a market cap of $188.35 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 1.27 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.

BlackRock (NYSE:BLK) last issued 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 return on equity of 16.08% and a net margin of 24.22%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter last year, the firm posted $8.43 earnings per share. BlackRock’s revenue was up 19.1% compared to the same quarter last year. Equities analysts expect that BlackRock will post 57.82 earnings per share for the current fiscal year.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is seeing interest in in-kind digital-currency transactions, which could create business opportunities as investors seek ways to manage crypto-security concerns. The report does not quantify any resulting revenue or commitments. Article: BlackRock Sees Billions in Crypto ETF Conversions. Security Fears Are Driving the Trade.
• Neutral Sentiment: BlackRock Canada expects a special cash distribution in December for its XRB real-return-bond ETF, estimated at about 14% of the fund’s portfolio. It reflects maturing bonds that cannot be reinvested in newly issued Canadian real-return bonds, so it is primarily relevant to XRB unitholders rather than a direct corporate payout. Article: BlackRock Canada Announces a Special Distribution for the iShares Canadian Real Return Bond Index ETF
• Neutral Sentiment: BlackRock-backed Securitize agreed to acquire River One to expand into asset-backed lending. This may broaden the tokenization platform’s capabilities, but the report does not indicate a material near-term effect on BlackRock’s results. Article: Securitize agrees to buy River One to expand into asset-backed lending
• Negative Sentiment: Crypto-fund outflows are the clearest downside signal: BlackRock’s iShares Bitcoin Trust (IBIT) lost $213 million Monday, extending its withdrawal streak to seven sessions and bringing outflows since October 30 to $1.66 billion. Its Ethereum fund also saw $119 million in withdrawals. Sustained redemptions could pressure crypto-fund assets and related fee revenue. Article: BlackRock Bitcoin ETF outflows hit $1.66B over seven trading sessions

About BlackRock

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.