11,781 BlackRock $BLK Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its stake in shares of BlackRock (NYSE:BLK) by 392.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,780 shares of the asset manager’s stock after acquiring an additional 11,781 shares during the period. First Citizens Bank & Trust Co.’s holdings in BlackRock were worth $15,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Focus Financial Network Inc. grew its position in shares of BlackRock by 3.6% during the 3rd quarter. Focus Financial Network Inc. now owns 436 shares of the asset manager’s stock valued at $462,000 after buying an additional 15 shares during the last quarter. Enclave Advisors LLC acquired a new stake in BlackRock in the third quarter worth about $247,000. XY Planning Network Inc. bought a new position in BlackRock in the 3rd quarter valued at about $204,000. KMG Fiduciary Partners LLC increased its stake in BlackRock by 356.4% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 41,826 shares of the asset manager’s stock valued at $44,264,000 after buying an additional 32,661 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in shares of BlackRock by 186.2% during the 3rd quarter. Salem Investment Counselors Inc. now owns 269 shares of the asset manager’s stock worth $285,000 after buying an additional 175 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on BlackRock from $1,479.00 to $1,468.00 and set an “overweight” rating on the stock in a report on Tuesday. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Bank of America raised their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. BNP Paribas Exane lifted their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, Evercore reiterated an “outperform” rating and issued a $1,275.00 target price on shares of BlackRock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,309.88.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,068.07 on Wednesday. The stock has a market cap of $165.41 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. The business has a fifty day simple moving average of $1,107.58 and a 200-day simple moving average of $1,060.27. 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 has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK) last issued its quarterly 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. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. BlackRock’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.05 earnings per share. On average, sell-side analysts anticipate that BlackRock will post 55.69 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were given a dividend of $5.73 per share. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. 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 said assets under management grew 15% to nearly $15.5 trillion, expanding the company’s fee-generating base and highlighting continued demand for its ETFs, index products and broader investment offerings. BlackRock assets under management growth
• Positive Sentiment: Third-quarter profit increased as resilient financial markets boosted management fees, supporting the core earnings outlook for BLK. The company released its full results and supplemental materials before hosting an investor conference call. BlackRock profit and fee growth
• Positive Sentiment: BlackRock’s HPS Investment Partners agreed to form a majority-owned joint venture with Humana to manage nearly 150 CenterWell senior-care clinics. The deal broadens BlackRock’s private-market and infrastructure exposure and could create additional long-term fee opportunities. Humana and BlackRock clinic joint venture
• Neutral Sentiment: BlackRock expanded its product lineup with a new actively managed artificial-intelligence and technology ETF through the RBC iShares alliance, while funds managed by BlackRock participated in a $200 million financing for 3D-homebuilder Icon. These initiatives offer growth potential but are unlikely to materially affect near-term earnings. New iShares AI and technology ETF
• Negative Sentiment: BlackRock’s investment research unit became more constructive on short-term Treasuries and closed its longstanding U.S. stock overweight, signaling caution about equity valuations and potentially limiting near-term appetite for risk assets. BlackRock shifts toward short-term Treasuries
• Negative Sentiment: The iShares Bitcoin Trust recorded approximately $65.4 million in net outflows in the latest session, making it the only U.S. spot-Bitcoin ETF to report a withdrawal that day and raising concerns about crypto-related flows. IBIT Bitcoin ETF outflows

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.