BlackRock (NYSE:BLK) Stock Rating Upgraded by Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods upgraded BlackRock from “hold” to “moderate buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $1,303.35.
• BlackRock’s latest quarterly results exceeded expectations, with earnings of $13.91 per share and revenue of $7.08 billion; revenue increased 30.6% year over year.
• BLK shares opened at $1,067.09, below the consensus target, while institutional investors and hedge funds own approximately 80.69% of the company.

BlackRock (NYSE:BLK - Get Free Report) was upgraded by research analysts at Keefe, Bruyette & Woods from a "hold" rating to a "moderate buy" rating in a research note issued to investors on Wednesday, Zacks reports.

Several other analysts also recently issued reports on BLK. UBS Group cut their target price on shares of BlackRock from $1,320.00 to $1,277.00 and set a "buy" rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their target price on BlackRock from $1,245.00 to $1,230.00 and set an "overweight" rating for the company in a research report on Thursday. Weiss Ratings downgraded BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. BNP Paribas Exane upped their price target on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. increased their price objective on BlackRock from $1,364.00 to $1,435.00 and gave the stock an "overweight" rating in a research note on Tuesday. 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 stock. According to data from MarketBeat, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,303.35.

BlackRock Price Performance

BLK stock opened at $1,067.09 on Wednesday. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The firm has a 50-day moving average of $1,110.01 and a two-hundred day moving average of $1,058.13. The firm has a market capitalization of $165.26 billion, a PE ratio of 25.50, a P/E/G ratio of 1.21 and a beta of 1.41. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the firm posted $12.05 earnings per share. The firm's quarterly revenue was up 30.6% compared to the same quarter last year. On average, analysts forecast that BlackRock will post 55.73 earnings per share for the current year.

Institutional Trading of BlackRock

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of BlackRock during the 2nd quarter valued at about $9,747,857,000. State Street Corp increased its holdings in BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager's stock worth $6,705,193,000 after buying an additional 33,752 shares during the last quarter. Corient Private Wealth LLC raised its position in BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares in the last quarter. Temasek Holdings Private Ltd lifted its stake in BlackRock by 4.7% in the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager's stock valued at $5,126,387,000 after acquiring an additional 237,667 shares during the last quarter. Finally, Bank of America Corp DE grew its position in BlackRock by 0.7% in the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager's stock worth $5,032,603,000 after acquiring an additional 35,069 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s shares have gained 6.8% over the past six months, supported by record assets under management, strategic acquisitions, strong investment demand, and its diversified product lineup. However, analysts caution that the stock’s elevated valuation could limit additional upside. BLK Shares Rally 6.8% in Six Months: Is There Further Upside Left?
• Positive Sentiment: BlackRock is reportedly in exclusive discussions to acquire Stack Infrastructure’s Asia-Pacific data-center assets in a potential $20 billion-to-$25 billion transaction. The deal would increase exposure to AI and cloud infrastructure, though its size also raises execution and financing considerations. BlackRock in Exclusive Talks on $20 Billion Data Center Deal
• Positive Sentiment: BlackRock continues to promote growth in digital assets and tokenization, including tokenized money-market funds, stablecoins, Bitcoin, and AI-driven crypto payments. Its crypto portfolio reportedly increased by more than $291 million over four days, highlighting potential long-term fee and product opportunities. BlackRock’s Nikhil Sharma Pitches Tokenized Money Market Funds
• Neutral Sentiment: Fixed-income chief Rick Rieder said short-term bonds remain attractive and indicated a hawkish Federal Reserve positioning. Higher rates can support fixed-income demand but may pressure equity valuations and risk assets. BlackRock’s Rieder on Yield Curve and Federal Reserve Rate Hikes
• Negative Sentiment: U.S. spot Bitcoin ETFs recorded approximately $484.9 million in net outflows, with BlackRock’s iShares Bitcoin Trust accounting for $207.7 million. The withdrawals reduce near-term sentiment around crypto-related asset growth and fee revenue. US Bitcoin ETFs See $485 Million Outflow
• Negative Sentiment: BlackRock is scheduled to report quarterly results next week. While Wall Street expects earnings growth, a Zacks analysis says the company may lack the typical indicators for a significant earnings beat, increasing event risk for the stock. BlackRock Reports Next Week
• Negative Sentiment: The Rosen Law Firm is investigating potential securities claims involving BlackRock mutual funds, citing allegations of materially misleading business information. The announcement creates reputational and potential legal overhang, although it does not establish wrongdoing. BlackRock Investor News

BlackRock Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.