BlackRock $BLK Stock: Chicago Partners Investment Group LLC Raises Holdings

Chicago Partners Investment Group LLC boosted its stake in BlackRock (NYSE:BLK) by 50.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,321 shares of the asset manager’s stock after acquiring an additional 774 shares during the period. Chicago Partners Investment Group LLC’s holdings in BlackRock were worth $2,595,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Santa Clara Valley Transportation Authority acquired a new position in BlackRock in the 2nd quarter valued at about $129,138,253,000. BlackRock Inc. purchased a new position in shares of BlackRock during the 2nd quarter worth $9,747,857,000. Temasek Holdings Private Ltd lifted its stake in shares of BlackRock by 4.7% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock worth $5,126,387,000 after purchasing an additional 237,667 shares during the period. Bank of America Corp DE lifted its stake in shares of BlackRock by 0.7% during the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock worth $5,032,603,000 after purchasing an additional 35,069 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of BlackRock by 23.3% during the second quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock worth $4,322,283,000 after purchasing an additional 850,406 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock executives described potential shifts in equity markets and opportunities in AI-related debt financing. The company also said political changes following the U.S. midterms will not alter its crypto strategy, signaling continuity in its digital-asset plans. Rieder on equity rebalancing BlackRock’s crypto strategy
• Positive Sentiment: Preqin, BlackRock’s private-markets data business, is partnering with an AI-powered capital-introduction platform. The collaboration may extend the reach of its institutional data offering, though the financial impact is not specified. Preqin and iConnections collaboration
• Neutral Sentiment: Larry Fink argued that workers have fallen behind investors, prompting discussion of pay, investment returns and market ownership. This is a broader economic commentary rather than a direct update on BlackRock’s earnings or outlook. Larry Fink on workers and investors
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) continued to see withdrawals even as some reports described a rebound in overall crypto ETF flows. Further outflows could pressure fund assets and related fee revenue, although the reports do not quantify a material effect on BlackRock’s overall results. BlackRock ETF withdrawals

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company upped their target price on BlackRock from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Jefferies Financial Group reissued a “buy” rating and issued a $1,341.00 price target on shares of BlackRock in a research note on Wednesday, October 28th. Bank of America lowered their price target on BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. UBS Group upped their price objective on shares of BlackRock from $1,277.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Finally, Weiss Ratings raised shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,342.25.

BlackRock Stock Up 0.7%

Shares of NYSE:BLK opened at $1,178.32 on Friday. 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 52-week low of $917.39 and a 52-week high of $1,242.12. The company has a 50 day moving average of $1,104.90 and a two-hundred day moving average of $1,065.48. The company has a market capitalization of $182.49 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping the consensus estimate of $14.32 by $1.61. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.43 earnings per share. As a group, analysts forecast that BlackRock will post 57.82 earnings per share for the current fiscal year.

About BlackRock

BlackRock, Inc is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world.

BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.

The company also provides Aladdin, a technology platform used by investors and financial institutions for portfolio management, operations and risk analysis.