1,853 Shares in BlackRock $BLK Purchased by Waycross Partners LLC

Key Points

• Waycross Partners acquired a new BlackRock position in the third quarter, buying 1,853 shares valued at approximately $1.96 million. Institutional investors and hedge funds collectively own 80.69% of the stock.
• BlackRock’s latest quarterly results beat expectations: EPS was $15.93 versus a $14.32 consensus, while revenue of $7.75 billion rose 19.1% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $1,342.25; recent targets included Morgan Stanley’s $1,531 and Truist’s $1,310.

Waycross Partners LLC acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,853 shares of the asset manager's stock, valued at approximately $1,961,000.

Several other large investors have also recently added to or reduced their stakes in BLK. RMG Wealth Management LLC bought a new position in shares of BlackRock during the first quarter worth about $25,000. Addison Advisors LLC bought a new stake in BlackRock in the 2nd quarter valued at about $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in BlackRock in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in BlackRock during the 2nd quarter valued at about $30,000. Finally, Putney Financial Group LLC acquired a new position in BlackRock during the 3rd quarter valued at about $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of BLK stock traded up $7.65 during midday trading on Friday, reaching $1,178.32. 521,271 shares of the company were exchanged, compared to its average volume of 691,463. The company's 50 day moving average price is $1,104.90 and its two-hundred day moving average price is $1,065.48. The company has a market cap of $182.49 billion, a P/E ratio of 26.79, a PEG ratio of 1.21 and a beta of 1.37. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,242.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (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 during the quarter, compared to analysts' expectations of $7.42 billion. During the same period last year, the firm posted $8.43 earnings per share. The business's revenue was up 19.1% on a year-over-year basis. On average, sell-side analysts expect that BlackRock will post 57.82 earnings per share for the current year.

BlackRock News Roundup

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

Analysts Set New Price Targets

Several equities research analysts have commented on BLK shares. Weiss Ratings upgraded shares of BlackRock from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Truist Financial set a $1,310.00 price objective on BlackRock in a research report on Thursday, October 15th. Zacks Research lowered BlackRock from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Morgan Stanley raised their target price on BlackRock from $1,468.00 to $1,531.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. Finally, Keefe, Bruyette & Woods lifted their target price on BlackRock from $1,290.00 to $1,310.00 and gave the company an "outperform" rating in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,342.25.

BlackRock Profile

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.

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