BlackRock $BLK Stock Bought by Cooper Financial Group

Cooper Financial Group increased its stake in BlackRock (NYSE:BLK) by 428.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,065 shares of the asset manager’s stock after purchasing an additional 1,674 shares during the quarter. Cooper Financial Group’s holdings in BlackRock were worth $2,185,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Advisors Capital Management LLC purchased a new position in shares of BlackRock during the 2nd quarter valued at $33,847,000. Varma Mutual Pension Insurance Co bought a new position in shares of BlackRock during the 2nd quarter worth $28,185,000. Haverford Trust Co purchased a new stake in BlackRock in the 2nd quarter worth about $264,500,000. Liberty One Investment Management LLC increased its holdings in BlackRock by 30.7% in the 1st quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock worth $4,675,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Basswood Capital Management L.L.C. bought a new stake in BlackRock in the 2nd quarter valued at about $23,122,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is reportedly in exclusive talks with partners to acquire Stack Infrastructure’s Asia-Pacific data-center assets for approximately $20 billion to $25 billion. A completed transaction would expand BlackRock’s exposure to AI, cloud computing and digital infrastructure, although the discussions may not result in a deal. BlackRock in talks on data-center deal
• Positive Sentiment: JPMorgan raised its BlackRock price target to $1,435 from $1,364 and maintained an overweight rating, signaling confidence in the company’s earnings and longer-term growth prospects. BlackRock price target raised
• Positive Sentiment: BlackRock continues to promote growth in tokenized money-market funds, stablecoin infrastructure and digital-asset products, including its Bitcoin and Ethereum ETFs. These initiatives could broaden fee revenue and institutional adoption over time. Tokenized money-market funds
• Neutral Sentiment: BlackRock’s upcoming earnings report is expected to show year-over-year growth, but analysts cited by Zacks do not see a particularly strong combination of estimate revisions and earnings-surprise trends ahead of the release. This may encourage investors to wait for results. BlackRock earnings preview
• Negative Sentiment: Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging that investors may have received materially misleading business information. The announcement is an investor solicitation and does not establish wrongdoing, but it adds headline and litigation risk. BlackRock investor investigation
• Negative Sentiment: Commentary warning that interest rates above 5% are straining borrowers and the broader economy could weigh on asset values, flows and investor risk appetite—important factors for an asset manager such as BlackRock. Higher rates pressure the economy

BlackRock Price Performance

NYSE BLK traded down $11.01 during trading hours on Wednesday, hitting $1,068.41. The company had a trading volume of 385,602 shares, compared to its average volume of 742,563. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The firm has a 50 day simple moving average of $1,110.65 and a 200 day simple moving average of $1,057.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market capitalization of $165.46 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.18 and a beta of 1.41.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the previous year, the firm earned $12.05 EPS. The company’s quarterly revenue was up 30.6% compared to the same quarter last year. Equities research analysts expect that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s dividend payout ratio is 54.78%.

Analyst Ratings Changes

BLK has been the subject of a number of research reports. UBS Group cut their target price on shares of BlackRock from $1,320.00 to $1,277.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of BlackRock in a research report on Friday, October 2nd. They issued an “overweight” rating and a $1,245.00 price target on the stock. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Keefe, Bruyette & Woods downgraded shares of BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Morgan Stanley reduced their price objective on shares of BlackRock from $1,488.00 to $1,479.00 and set an “overweight” rating for the company in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,304.24.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.