BlackRock $BLK Holdings Boosted by YHB Investment Advisors Inc.

Key Points

• YHB Investment Advisors increased its BlackRock stake by 590.4% in the third quarter, bringing its holdings to 22,253 shares valued at approximately $23.55 million. Institutional investors collectively own 80.69% of BlackRock’s shares.
• Analysts maintain a generally positive outlook, with BlackRock receiving a consensus “Moderate Buy” rating and an average price target of $1,303.35, despite one recent downgrade to “Hold.”
• BlackRock reported strong quarterly results, with revenue up 30.6% year over year and EPS surpassing estimates; the company also declared a quarterly dividend of $5.73, equivalent to a 2.1% annual yield.

YHB Investment Advisors Inc. boosted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 590.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,253 shares of the asset manager's stock after buying an additional 19,030 shares during the period. BlackRock accounts for about 1.5% of YHB Investment Advisors Inc.'s investment portfolio, making the stock its 14th biggest holding. YHB Investment Advisors Inc.'s holdings in BlackRock were worth $23,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Santa Clara Valley Transportation Authority bought a new position in shares of BlackRock in the 2nd quarter worth $129,138,253,000. BlackRock Inc. bought a new stake in BlackRock during the second quarter valued at about $9,747,857,000. State Street Corp grew its stake in BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager's stock valued at $6,705,193,000 after purchasing an additional 33,752 shares during the last quarter. Corient Private Wealth LLC raised its holdings in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its position in shares of BlackRock by 4.7% during 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 buying an additional 237,667 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLK. Barclays cut their price objective on shares of BlackRock from $1,450.00 to $1,420.00 and set an "overweight" rating on the stock in a research report on Wednesday. Bank of America raised their target price on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods lowered shares of BlackRock from a "moderate buy" rating to a "hold" rating in a report on Friday, August 7th. BMO Capital Markets increased their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,303.35.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s six-month gain is supported by record assets under management, strategic acquisitions, and continued demand for its investment products. The company’s expanding exposure to digital infrastructure, tokenized money-market funds, and cryptocurrency could provide additional growth avenues. 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 centers in a potential $20 billion to $25 billion transaction, increasing its exposure to AI and cloud-computing infrastructure. BlackRock in Exclusive Talks on $20 Billion Data Center Deal
• Positive Sentiment: BlackRock’s funds continue to gain attention for strong performance, including its income and semiconductor offerings, which may support asset gathering and fee revenue. BlackRock’s Income Fund Performance
• Neutral Sentiment: BlackRock’s investment chief Rick Rieder remains positioned for a hawkish Federal Reserve, saying short-term yields are attractive. Higher rates can benefit money-market and fixed-income products but may pressure broader asset valuations. BlackRock’s Rieder on Yield Curve and Federal Reserve Rate Hikes
• Neutral Sentiment: BlackRock is expected to report earnings next week. Analysts anticipate year-over-year earnings growth, but the latest preview suggests the company may lack the combination of positive estimate revisions and other signals typically associated with an earnings beat. BlackRock Reports Next Week
• Negative Sentiment: U.S. spot Bitcoin ETFs recorded nearly $485 million in net outflows, with BlackRock’s iShares Bitcoin Trust responsible for $207.7 million of withdrawals. Continued crypto outflows could slow asset growth and fee income from the business. US Bitcoin ETFs See $485 Million Outflow
• Negative Sentiment: Analysts caution that BlackRock’s premium valuation may limit further upside after its recent advance. Shares are also below their 50-day moving average, reinforcing near-term investor caution. BlackRock Valuation Outlook
• Negative Sentiment: The Rosen Law Firm says it is investigating potential securities claims involving BlackRock mutual funds, creating a headline and potential legal risk, although no wrongdoing has been established. BlackRock Investor Legal Investigation

BlackRock Stock Performance

NYSE:BLK traded down $3.34 during midday trading on Thursday, hitting $1,066.29. The company's stock had a trading volume of 192,412 shares, compared to its average volume of 739,625. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. 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 firm has a market cap of $165.14 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.22 and a beta of 1.41. The firm's 50 day moving average is $1,110.65 and its 200-day moving average is $1,057.36.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock's dividend payout ratio is presently 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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