B. Riley Wealth Advisors Inc. Purchases 3,951 Shares of BlackRock $BLK

Key Points

• B. Riley Wealth Advisors increased its BlackRock stake by 316.8% in the third quarter, purchasing 3,951 additional shares for a total of 5,198 shares valued at approximately $5.5 million. Institutional investors collectively own 80.69% of BlackRock.
• Analysts maintain a generally positive outlook, with BlackRock carrying a consensus “Moderate Buy” rating and an average price target of $1,309.88, despite mixed recent target revisions.
• BlackRock recently exceeded earnings expectations, reporting $13.91 in quarterly EPS and $7.08 billion in revenue, while paying a quarterly dividend of $5.73 per share for a 2.1% annualized yield.

B. Riley Wealth Advisors Inc. increased its holdings in BlackRock (NYSE:BLK - Free Report) by 316.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,198 shares of the asset manager's stock after acquiring an additional 3,951 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in BlackRock were worth $5,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. RMG Wealth Management LLC bought a new position in BlackRock in the first quarter worth approximately $25,000. Addison Advisors LLC bought a new position in shares of BlackRock in the 2nd quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of BlackRock in the 2nd quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of BlackRock in the 2nd quarter worth $30,000. Finally, Wilkerson Advisory Group LLC lifted its stake in shares of BlackRock by 100.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager's stock worth $33,000 after purchasing an additional 17 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock-backed funds and accounts managed by HPS Investment Partners are forming a majority-owned joint venture with Humana to manage nearly 150 CenterWell senior-care clinics. The deal expands BlackRock’s private-market presence and could generate management and investment fees. Humana Announces New Strategic Joint Venture with BlackRock
• Positive Sentiment: Funds managed by BlackRock are co-leading a $200 million financing for 3D-printed homebuilder Icon, highlighting the firm’s ability to deploy capital into private growth companies and alternative assets. BlackRock and Baillie Gifford bet big on Icon 3D printed homes
• Positive Sentiment: The RBC iShares platform launched a new actively managed artificial-intelligence and technology ETF, adding to BlackRock’s product lineup and potential fee-generating assets. The RBC iShares Alliance Expands Lineup
• Positive Sentiment: TD Cowen raised its BlackRock price target to $1,212 from $1,190, although it maintained a Hold rating. BlackRock Given New Price Target at TD Cowen
• Neutral Sentiment: BlackRock is scheduled to report third-quarter results shortly, with analysts expecting continued growth and strong asset inflows. The report could be the next major catalyst for BLK.
• Neutral Sentiment: The BlackRock Foundation is funding a SaverLife financial-wellness app for more than 75,000 skilled-trades apprentices. The initiative supports the company’s workforce-development profile but is unlikely to materially affect near-term earnings. SaverLife and The BlackRock Foundation Partnership
• Negative Sentiment: BlackRock’s investment strategists moved U.S. Treasuries to overweight and closed their U.S. stock overweight, citing more attractive yields after the bond selloff. The shift signals caution toward equities and could raise concerns about market conditions affecting asset flows. BlackRock cools on US stocks, turns bullish on short-dated Treasuries
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) recorded approximately $65.4 million in net outflows, representing the entire day’s withdrawals from U.S. spot Bitcoin ETFs. Continued redemptions could pressure fee revenue and investor sentiment. Bitcoin ETF Outflows Reach $65 Million
• Negative Sentiment: A viral claim that BlackRock assigned XRP a $32.91 price target appears to be unsupported, limiting any potential benefit from the speculation and underscoring misinformation risk around crypto-related headlines. Did BlackRock Really Put a $32.91 Price Target on XRP?

Analyst Ratings Changes

BLK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $1,258.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Keefe, Bruyette & Woods upgraded shares of BlackRock from a "hold" rating to a "moderate buy" rating in a report on Wednesday, October 7th. TD Cowen increased their price target on shares of BlackRock from $1,190.00 to $1,212.00 and gave the company a "hold" rating in a research report on Monday. Barclays lowered their price target on shares of BlackRock from $1,450.00 to $1,420.00 and set an "overweight" rating on the stock in a report on Wednesday, October 7th. Finally, Wells Fargo & Company cut their price objective on shares of BlackRock from $1,245.00 to $1,230.00 and set an "overweight" rating on the stock in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,309.88.

BlackRock Price Performance

Shares of BLK opened at $1,068.07 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The company's fifty day moving average price is $1,107.58 and its 200-day moving average price is $1,060.27. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The firm has a market capitalization of $165.41 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping analysts' consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. The company's revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.05 earnings per share. On average, equities research analysts predict that BlackRock will post 55.69 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were given a dividend of $5.73 per share. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. BlackRock's payout ratio is currently 54.78%.

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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