BlackRock $BLK Stock: D.A. Davidson & CO. Increases Stake

D.A. Davidson & CO. increased its holdings in shares of BlackRock (NYSE:BLK) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,801 shares of the asset manager’s stock after acquiring an additional 679 shares during the quarter. D.A. Davidson & CO.’s holdings in BlackRock were worth $14,606,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BLK. Advisors Capital Management LLC acquired a new position in BlackRock during the 2nd quarter valued at $33,847,000. Varma Mutual Pension Insurance Co acquired a new stake in BlackRock in the 2nd quarter worth $28,185,000. Haverford Trust Co bought a new position in shares of BlackRock during the 2nd quarter worth about $264,500,000. Liberty One Investment Management LLC increased its holdings in shares of BlackRock by 30.7% during the 1st quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock worth $4,675,000 after purchasing an additional 1,141 shares during the period. Finally, Basswood Capital Management L.L.C. bought a new position in shares of BlackRock during the 2nd quarter worth about $23,122,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BLK. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,341.00 price target on shares of BlackRock in a report on Wednesday. Truist Financial set a $1,310.00 price objective on BlackRock in a report on Thursday, October 15th. BNP Paribas Exane boosted their price objective on BlackRock from $1,370.00 to $1,430.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Finally, The Goldman Sachs Group cut their target price on BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,342.25.

BlackRock Trading Up 1.6%

Shares of BLK stock opened at $1,176.13 on Friday. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,187.17. The company has a market capitalization of $182.15 billion, a P/E ratio of 26.74, a P/E/G ratio of 1.20 and a beta of 1.41. The firm has a 50-day moving average price of $1,103.72 and a 200 day moving average price of $1,063.75. 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 released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating analysts’ consensus estimates of $14.32 by $1.61. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $8.43 earnings per share. Research analysts forecast that BlackRock will post 57.82 earnings per share for the current fiscal year.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s lower-cost ether ETF offering is positioned as a more economical alternative to Grayscale’s ETHE, potentially helping BlackRock attract assets in the growing crypto-investment market. BlackRock Charges Less Than ETHE to Hold Ether
• Positive Sentiment: Preqin, which is owned by BlackRock, forecasts global private-markets assets under management will exceed $34 trillion by the end of 2031. The outlook highlights a significant long-term growth opportunity for BlackRock’s private-markets and data businesses. Preqin Private Markets Forecast
• Positive Sentiment: BlackRock and SBI Holdings are exploring a yen stablecoin connection for tokenized funds, reinforcing BlackRock’s push into blockchain-based fund distribution and potentially opening new channels for international growth. BlackRock and SBI Explore Yen Stablecoin Link
• Neutral Sentiment: BlackRock disclosed that its holdings in OMV rose above 5%, while its voting stake in ChemoMetec increased above 15%. These filings indicate portfolio repositioning or index-related ownership changes, but they do not directly affect BlackRock’s earnings. BlackRock Raises OMV Stake
• Neutral Sentiment: BlackRock’s Jeffrey Rosenberg said Federal Reserve Chair Kevin Warsh may be monitoring whether enthusiasm for artificial-intelligence investments is vulnerable as interest rates and market leadership shift. The comments underscore potential volatility for equities, bonds and crypto assets. BlackRock Executive Discusses the AI Trade
• Negative Sentiment: BlackRock reduced its IonQ stake by approximately 1.6 million shares, taking its reported ownership below 5%. While this is not necessarily a company-wide bearish signal, it could raise questions about exposure to speculative technology investments. BlackRock Reduces IonQ Stake

BlackRock 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.