BlackRock $BLK Stock Holdings Boosted by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lifted its stake in shares of BlackRock (NYSE:BLK) by 26.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,136 shares of the asset manager’s stock after purchasing an additional 450 shares during the period. Washington Trust Advisors Inc.’s holdings in BlackRock were worth $2,261,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. River Street Advisors LLC lifted its stake in BlackRock by 4.8% during the third quarter. River Street Advisors LLC now owns 3,398 shares of the asset manager’s stock valued at $3,596,000 after buying an additional 156 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its position in shares of BlackRock by 7.9% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 342 shares of the asset manager’s stock worth $362,000 after acquiring an additional 25 shares in the last quarter. MBL Wealth LLC increased its position in shares of BlackRock by 38.2% in the third quarter. MBL Wealth LLC now owns 1,414 shares of the asset manager’s stock worth $1,496,000 after acquiring an additional 391 shares in the last quarter. CMH Wealth Management LLC raised its holdings in shares of BlackRock by 2.9% during the third quarter. CMH Wealth Management LLC now owns 9,748 shares of the asset manager’s stock valued at $10,316,000 after acquiring an additional 272 shares during the period. Finally, Brookstone Capital Management raised its holdings in shares of BlackRock by 12.3% during the third quarter. Brookstone Capital Management now owns 1,376 shares of the asset manager’s stock valued at $1,456,000 after acquiring an additional 151 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETFs were among the leading beneficiaries of a three-day buying streak, with U.S. Bitcoin ETFs attracting $524.8 million on October 21. Sustained inflows can increase assets under management and fee revenue for BlackRock. Bitcoin ETFs Draw $524.8 Million As BlackRock And Fidelity Lead
• Positive Sentiment: The company filed for the iShares Bitcoin Managed Protection ETF, designed to provide Bitcoin exposure with downside-management features, and launched an actively managed robotics ETF. The products broaden BlackRock’s crypto, artificial-intelligence, and thematic ETF lineup and could support future asset gathering. BlackRock Files Bitcoin Protection ETF And Launches Active Robotics Fund
• Positive Sentiment: BlackRock’s HPS Investment Partners plans to invest up to $434.6 million in TBS Energi Utama, highlighting continued expansion of its private-markets and alternative-investment platform. BlackRock’s HPS Investment Partners to Invest Up to $434.6 million in TBS Energi Utama
• Neutral Sentiment: BlackRock joined the Depository Trust & Clearing Corporation’s tokenization initiative with Ripple Prime and JPMorgan. The move strengthens BlackRock’s institutional digital-asset positioning, although its effect on fee revenue and earnings remains uncertain. Ripple Joined DTCC’s Tokenization Push
• Negative Sentiment: CEO Larry Fink warned that a slowdown in data-center construction could raise inflation and contribute to a U.S. recession, adding to macroeconomic concerns for asset managers and markets. Larry Fink Warns Data Center Slowdown Could Push US Into Recession
• Negative Sentiment: The reported transfer of crypto assets to Coinbase Prime may be viewed as a possible liquidation signal, even though there is no confirmation that BlackRock or its ETF investors are selling. BlackRock Moved $262 Million in Bitcoin to Coinbase

BlackRock Stock Down 1.8%

Shares of NYSE:BLK traded down $20.17 during trading on Friday, reaching $1,117.12. 813,322 shares of the company traded hands, compared to its average volume of 653,376. The firm has a fifty day simple moving average of $1,103.45 and a 200 day simple moving average of $1,068.93. The firm has a market cap of $173.01 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,187.17. 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 (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The business 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 company posted $8.43 EPS. BlackRock’s revenue was up 19.1% on a year-over-year basis. Analysts anticipate that BlackRock will post 57.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BLK shares. Jefferies Financial Group upped their price target on shares of BlackRock from $1,222.00 to $1,260.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Bank of America lowered their price objective on shares of BlackRock from $1,320.00 to $1,287.00 in a research report on Monday, October 5th. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Evercore restated an “outperform” rating and issued a $1,275.00 target price (down from $1,300.00) on shares of BlackRock in a report on Friday, October 9th. Finally, BMO Capital Markets raised their target price on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Monday. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,337.19.

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.