BlackRock $BLK Stock Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC increased its position in shares of BlackRock (NYSE:BLK) by 71.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,878 shares of the asset manager’s stock after purchasing an additional 3,694 shares during the quarter. Stonebridge Financial Group LLC’s holdings in BlackRock were worth $9,395,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Evolution Wealth Management Inc. acquired a new position in shares of BlackRock during the 4th quarter worth $26,000. RMG Wealth Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $25,000. Addison Advisors LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in BlackRock during the 2nd quarter valued at about $25,000. Finally, Meeder Asset Management Inc. purchased a new position in BlackRock during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.6%

NYSE BLK traded up $6.16 during mid-day trading on Thursday, reaching $1,064.45. 524,532 shares of the company’s stock traded hands, compared to its average volume of 747,184. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $1,110.58 and a 200-day simple moving average of $1,053.40. The company has a market cap of $164.85 billion, a price-to-earnings ratio of 25.44, a P/E/G 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 $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly 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. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the company posted $12.05 earnings per share. As a group, equities research analysts expect that BlackRock will post 55.9 EPS for the current year.

BlackRock Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on BLK shares. UBS Group upped their price target on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Barclays upped their price objective on BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley lowered their target price on shares of 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, Weiss Ratings downgraded shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,304.35.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Wall Street expects BlackRock to report third-quarter earnings on October 14, with consensus estimates calling for approximately $14.25 in EPS and $7.56 billion in revenue. Most recently updated analyst ratings remain bullish, reinforcing expectations for another strong quarter. BlackRock gears up for third-quarter earnings
• Positive Sentiment: BlackRock is adding ETF share classes to five active mutual funds as competition increases in Europe’s pension-focused ETF market. The move could broaden product distribution and help defend the firm’s leadership in exchange-traded products. BlackRock defends its ETF position
• Positive Sentiment: BlackRock’s cryptocurrency portfolio reportedly increased by nearly $30 billion during the third quarter. Stronger digital-asset prices and continued adoption of its spot Bitcoin and Ethereum ETFs could support assets under management and fee revenue. BlackRock’s crypto portfolio surges
• Positive Sentiment: BlackRock strategist Wei Li said new artificial-intelligence agents could accelerate AI adoption and create additional demand for digital assets and computing infrastructure. He maintained a constructive broader risk view, although he identified energy-market disruption as a major caveat. Wei Li discusses AI and markets
• Neutral Sentiment: BlackRock announced results from discount-management programs at certain closed-end funds. The programs may improve shareholder value for those funds but are unlikely to materially affect BLK’s consolidated earnings. Closed-end fund discount-management updates
• Negative Sentiment: Investors withdrew $2.4 billion from U.S. mortgage-backed-securities ETFs in September, the largest monthly outflow since March 2020, as higher yields pressured bond prices. Continued fixed-income outflows could weigh on BlackRock’s ETF assets and management fees. Mortgage bond ETF outflows

About BlackRock

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.