Everhart Financial Group Inc. Grows Stock Holdings in BlackRock $BLK

Everhart Financial Group Inc. increased its stake in BlackRock (NYSE:BLK) by 872.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,927 shares of the asset manager’s stock after purchasing an additional 10,700 shares during the period. BlackRock accounts for 0.8% of Everhart Financial Group Inc.’s portfolio, making the stock its 19th largest holding. Everhart Financial Group Inc.’s holdings in BlackRock were worth $12,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gradient Investments LLC acquired a new position in BlackRock during the 3rd quarter valued at about $209,000. Avidian Wealth Enterprises LLC grew its position in shares of BlackRock by 79.8% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,541 shares of the asset manager’s stock worth $7,981,000 after buying an additional 3,348 shares during the period. New Covenant Trust Company N.A. raised its stake in shares of BlackRock by 807.3% during the third quarter. New Covenant Trust Company N.A. now owns 2,250 shares of the asset manager’s stock worth $2,381,000 after buying an additional 2,002 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of BlackRock by 3.9% during the third quarter. Toth Financial Advisory Corp now owns 13,331 shares of the asset manager’s stock worth $14,092,000 after buying an additional 496 shares during the last quarter. Finally, Whalen Wealth Management Inc. acquired a new position in BlackRock in the third quarter valued at approximately $564,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Down 0.4%

NYSE:BLK traded down $4.19 on Thursday, reaching $1,065.44. The company’s stock had a trading volume of 177,615 shares, compared to its average volume of 739,552. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The business’s 50-day moving average price is $1,110.65 and its two-hundred day moving average price is $1,057.36. The firm has a market cap of $165.00 billion, a PE ratio of 25.47, a PEG ratio of 1.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share 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 business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the business posted $12.05 EPS. BlackRock’s revenue for the quarter was up 30.6% on a year-over-year basis. Equities research analysts anticipate that BlackRock will post 55.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were paid a $5.73 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s payout ratio is presently 54.78%.

Trending Headlines about 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

Analyst Ratings Changes

A number of research firms have commented on BLK. Keefe, Bruyette & Woods lowered shares of BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,364.00 to $1,435.00 and gave the stock an “overweight” rating in a research note on Tuesday. BMO Capital Markets increased their target price on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Morgan Stanley lowered their price target on 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. Finally, Wells Fargo & Company reduced their price objective on shares of BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,303.35.

BlackRock Company 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.