Assenagon Asset Management S.A. Buys 74,473 Shares of BlackRock $BLK

Assenagon Asset Management S.A. increased its position in shares of BlackRock (NYSE:BLK - Free Report) by 42.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 248,506 shares of the asset manager's stock after buying an additional 74,473 shares during the quarter. Assenagon Asset Management S.A. owned about 0.16% of BlackRock worth $244,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. RDA Financial Network purchased a new position in BlackRock during the third quarter worth about $8,702,000. Summit Financial Wealth Advisors LLC acquired a new stake in shares of BlackRock during the third quarter valued at about $283,000. State of Alaska Department of Revenue raised its stake in shares of BlackRock by 3,044.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 444,827 shares of the asset manager's stock valued at $470,756,000 after acquiring an additional 430,681 shares during the period. Mainsail Asset Management LLC raised its stake in shares of BlackRock by 19.5% in the 3rd quarter. Mainsail Asset Management LLC now owns 312 shares of the asset manager's stock valued at $337,000 after acquiring an additional 51 shares during the period. Finally, Nvwm LLC raised its stake in shares of BlackRock by 230.0% in the 3rd quarter. Nvwm LLC now owns 264 shares of the asset manager's stock valued at $279,000 after acquiring an additional 184 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Q3 beat: BlackRock reported adjusted EPS of $15.93, above the $14.32 consensus, while revenue rose 19.1% year over year to $7.75 billion, ahead of the $7.42 billion estimate. BlackRock Q3 earnings report
• Positive Sentiment: Record inflows and AUM: The firm attracted approximately $205 billion in quarterly net inflows, helping assets under management reach about $15.5 trillion. Strong demand for iShares ETFs, fixed-income products and private-market strategies supports recurring fee growth. BlackRock Q3 profit rises on inflows
• Positive Sentiment: Analysts raised targets: JPMorgan lifted its price target to $1,449 with an overweight rating, while Keefe, Bruyette & Woods raised its target to $1,310 and maintained an outperform rating. Bank of America also reiterated a buy rating and raised its target to $1,313. Analysts raise BlackRock forecasts
• Positive Sentiment: Growth initiatives: Management highlighted AI infrastructure financing, technology revenue, margin expansion and fundraising in private markets as potential drivers of future growth, including a developing opportunity in the compute market. BlackRock earnings call on AI financing
• Neutral Sentiment: Crypto exposure remains mixed: BlackRock’s crypto ETF assets reportedly increased sharply during the quarter, but bitcoin and ether ETFs subsequently recorded roughly $391 million in combined one-day outflows, creating near-term sentiment risk. Bitcoin and Ether ETF flows
• Negative Sentiment: Macro and execution risks: CEO Larry Fink warned that halting data-center construction could damage growth and trigger a recession. BlackRock is also reducing U.S. stock exposure in favor of Treasuries, while UBS expects the firm to exit several 2030 targets early—potentially signaling that some long-term goals may be difficult to achieve. Larry Fink data-center warning

Analyst Ratings Changes

Several equities analysts have recently commented on BLK shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,258.00 price objective on shares of BlackRock in a report on Thursday, July 16th. BNP Paribas Exane lifted their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $1,435.00 to $1,449.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Finally, Morgan Stanley lowered their target price on BlackRock from $1,479.00 to $1,468.00 and set an "overweight" rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,312.06.

BlackRock Stock Performance

NYSE BLK opened at $1,123.32 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,209.89. The company has a market capitalization of $173.97 billion, a PE ratio of 25.54, a P/E/G ratio of 1.21 and a beta of 1.41. The company has a fifty day moving average of $1,106.32 and a two-hundred day moving average of $1,062.35.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.32 by $1.61. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the company posted $8.43 earnings per share. The business's quarterly revenue was up 19.1% compared to the same quarter last year. As a group, analysts expect that BlackRock will post 55.70 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock's dividend payout ratio is presently 52.11%.

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.

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