BlackRock $BLK Shares Purchased by Danske Bank A S

Danske Bank A S grew its holdings in shares of BlackRock (NYSE:BLK) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,017 shares of the asset manager’s stock after purchasing an additional 10,441 shares during the quarter. Danske Bank A S’s holdings in BlackRock were worth $97,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. RMG Wealth Management LLC purchased a new position in shares of BlackRock in the first quarter worth approximately $25,000. Addison Advisors LLC purchased a new stake in BlackRock during the second quarter valued at approximately $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in BlackRock during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in BlackRock in the second quarter worth approximately $30,000. Finally, Putney Financial Group LLC bought a new position in BlackRock in the third quarter worth approximately $32,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK traded up $5.21 during trading on Friday, hitting $1,221.82. 415,883 shares of the company’s stock were exchanged, compared to its average volume of 703,448. The business’s 50-day simple moving average is $1,113.42 and its 200 day simple moving average is $1,067.86. The company has a market cap of $188.67 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.26 and a beta of 1.37. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,242.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping analysts’ consensus estimates of $14.32 by $1.61. BlackRock had a return on equity of 15.60% 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 earned $8.43 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts predict that BlackRock will post 57.82 EPS for the current year.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. TD Cowen upgraded shares of BlackRock from a “hold” rating to a “buy” rating and lifted their price target for the stock from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. 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 research note on Thursday, October 15th. Truist Financial set a $1,310.00 price objective on BlackRock in a research note on Thursday, October 15th. Weiss Ratings raised BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Finally, Barclays lowered their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,342.25.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $1,219.55, for a total transaction of $8,536,850.00. Following the completion of the transaction, the director owned 6,065 shares in the company, valued at $7,396,570.75. This trade represents a 53.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.92% of the company’s stock.

Key Headlines Impacting BlackRock

Investors following BLK have been watching these headlines:

• Positive Sentiment: BlackRock’s private-markets expansion, acquisitions and record $15.49 trillion in assets under management are cited as growth drivers. The caveat: rising expenses could temper the benefit. Article: BlackRock’s Private Markets Expansion
• Neutral Sentiment: BlackRock-managed funds disclosed large Q3 positions in Exxon Mobil, Oneok and SK hynix. These are client-fund holdings reported in a 13F, not necessarily investments on BlackRock’s own balance sheet, so the disclosures have limited direct implications for BLK. Article: BlackRock’s XOM position
• Negative Sentiment: Investors pulled $269.7 million from BlackRock’s iShares Bitcoin Trust (IBIT) on Wednesday, bringing outflows to more than $2 billion over nine sessions. Sustained redemptions could weigh on the fund’s assets and related fee revenue. Article: BlackRock Bitcoin ETF outflows hit $2B

BlackRock Company 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.