BlackRock $BLK Stock Purchased by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. lifted its position in BlackRock (NYSE:BLK) by 590.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,253 shares of the asset manager’s stock after purchasing an additional 19,030 shares during the period. BlackRock comprises about 1.5% of YHB Investment Advisors Inc.’s portfolio, making the stock its 14th biggest holding. YHB Investment Advisors Inc.’s holdings in BlackRock were worth $23,550,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in BlackRock in the second quarter valued at $9,747,857,000. Corient Private Wealth LLC grew its position in shares of BlackRock by 5,190.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares during the period. Bank of America Corp DE acquired a new stake in shares of BlackRock during the 2nd quarter valued at about $4,409,095,000. Santa Clara Valley Transportation Authority purchased a new position in shares of BlackRock in the 2nd quarter valued at about $129,138,253,000. Finally, Auto Owners Insurance Co raised its holdings in BlackRock by 106,934.0% in 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. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BLK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,258.00 price objective on shares of BlackRock in a report on Thursday, July 16th. Wells Fargo & Company decreased their target price on BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating on the stock in a research report on Thursday. The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a report on Thursday, July 16th. Bank of America upped their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $1,364.00 to $1,435.00 and gave the company an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,303.35.

BlackRock Price Performance

Shares of NYSE:BLK traded down $3.34 during midday trading on Thursday, hitting $1,066.29. The company had a trading volume of 192,412 shares, compared to its average volume of 739,625. The business’s 50-day simple moving average is $1,110.65 and its 200-day simple moving average is $1,057.36. The stock has a market cap of $165.14 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the prior year, the business earned $12.05 EPS. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. On average, research analysts predict that BlackRock will post 55.73 earnings per share for the current year.

BlackRock Announces Dividend

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

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s six-month gain is supported by record assets under management, strategic acquisitions, and continued demand for its investment products. The company’s expanding exposure to digital infrastructure, tokenized money-market funds, and cryptocurrency could provide additional growth avenues. BLK Shares Rally 6.8% in Six Months: Is There Further Upside Left?
• Positive Sentiment: BlackRock is reportedly in exclusive discussions to acquire Stack Infrastructure’s Asia-Pacific data centers in a potential $20 billion to $25 billion transaction, increasing its exposure to AI and cloud-computing infrastructure. BlackRock in Exclusive Talks on $20 Billion Data Center Deal
• Positive Sentiment: BlackRock’s funds continue to gain attention for strong performance, including its income and semiconductor offerings, which may support asset gathering and fee revenue. BlackRock’s Income Fund Performance
• Neutral Sentiment: BlackRock’s investment chief Rick Rieder remains positioned for a hawkish Federal Reserve, saying short-term yields are attractive. Higher rates can benefit money-market and fixed-income products but may pressure broader asset valuations. BlackRock’s Rieder on Yield Curve and Federal Reserve Rate Hikes
• Neutral Sentiment: BlackRock is expected to report earnings next week. Analysts anticipate year-over-year earnings growth, but the latest preview suggests the company may lack the combination of positive estimate revisions and other signals typically associated with an earnings beat. BlackRock Reports Next Week
• Negative Sentiment: U.S. spot Bitcoin ETFs recorded nearly $485 million in net outflows, with BlackRock’s iShares Bitcoin Trust responsible for $207.7 million of withdrawals. Continued crypto outflows could slow asset growth and fee income from the business. US Bitcoin ETFs See $485 Million Outflow
• Negative Sentiment: Analysts caution that BlackRock’s premium valuation may limit further upside after its recent advance. Shares are also below their 50-day moving average, reinforcing near-term investor caution. BlackRock Valuation Outlook
• Negative Sentiment: The Rosen Law Firm says it is investigating potential securities claims involving BlackRock mutual funds, creating a headline and potential legal risk, although no wrongdoing has been established. BlackRock Investor Legal Investigation

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.