BlackRock $BLK Position Raised by Stonebridge Financial Group LLC

Key Points

• Stonebridge Financial Group increased its BlackRock position by 71.3% in the third quarter to 8,878 shares valued at approximately $9.4 million. Institutional investors collectively own 80.69% of BlackRock’s outstanding stock.
• BlackRock’s latest quarterly results beat expectations, with EPS of $13.91 and revenue of $7.08 billion, up 30.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,304.35.
• BlackRock paid a quarterly dividend of $5.73, equivalent to an annualized $22.92 and a 2.2% yield. Growth prospects include strong cryptocurrency ETF activity and expanded European ETF offerings, while $2.4 billion in September outflows from U.S. mortgage-backed-securities ETFs pose a potential headwind.

Stonebridge Financial Group LLC lifted its position in BlackRock (NYSE:BLK - Free Report) by 71.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,878 shares of the asset manager's stock after purchasing an additional 3,694 shares during the quarter. Stonebridge Financial Group LLC's holdings in BlackRock were worth $9,395,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. RMG Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at about $25,000. Addison Advisors LLC purchased a new stake in BlackRock in the 2nd quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of BlackRock during the 2nd quarter worth about $25,000. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock in the fourth quarter valued at approximately $26,000. Finally, Meeder Asset Management Inc. acquired a new stake in BlackRock during the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Wall Street expects BlackRock to report third-quarter earnings on October 14, with consensus estimates calling for approximately $14.25 in EPS and $7.56 billion in revenue. Most recently updated analyst ratings remain bullish, reinforcing expectations for another strong quarter. BlackRock gears up for third-quarter earnings
• Positive Sentiment: BlackRock is adding ETF share classes to five active mutual funds as competition increases in Europe’s pension-focused ETF market. The move could broaden product distribution and help defend the firm’s leadership in exchange-traded products. BlackRock defends its ETF position
• Positive Sentiment: BlackRock’s cryptocurrency portfolio reportedly increased by nearly $30 billion during the third quarter. Stronger digital-asset prices and continued adoption of its spot Bitcoin and Ethereum ETFs could support assets under management and fee revenue. BlackRock’s crypto portfolio surges
• Positive Sentiment: BlackRock strategist Wei Li said new artificial-intelligence agents could accelerate AI adoption and create additional demand for digital assets and computing infrastructure. He maintained a constructive broader risk view, although he identified energy-market disruption as a major caveat. Wei Li discusses AI and markets
• Neutral Sentiment: BlackRock announced results from discount-management programs at certain closed-end funds. The programs may improve shareholder value for those funds but are unlikely to materially affect BLK’s consolidated earnings. Closed-end fund discount-management updates
• Negative Sentiment: Investors withdrew $2.4 billion from U.S. mortgage-backed-securities ETFs in September, the largest monthly outflow since March 2020, as higher yields pressured bond prices. Continued fixed-income outflows could weigh on BlackRock’s ETF assets and management fees. Mortgage bond ETF outflows

BlackRock Stock Performance

Shares of BlackRock stock traded up $6.16 during trading on Thursday, reaching $1,064.45. The company's stock had a trading volume of 524,532 shares, compared to its average volume of 747,184. The company has a 50-day moving average price of $1,110.58 and a two-hundred day moving average price of $1,053.40. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a market cap of $164.85 billion, a PE ratio of 25.44, a P/E/G ratio of 1.18 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the company posted $12.05 earnings per share. The business's revenue was up 30.6% on a year-over-year basis. On average, analysts forecast that BlackRock will post 55.9 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a $5.73 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. BlackRock's payout ratio is presently 54.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BLK shares. Evercore restated an "outperform" rating and issued a $1,260.00 price target on shares of BlackRock in a research report on Monday, August 10th. UBS Group increased their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Morgan Stanley cut their price target on shares of BlackRock from $1,488.00 to $1,479.00 and set an "overweight" rating on the stock in a research note on Friday, September 25th. The Goldman Sachs Group restated a "buy" rating and set a $1,389.00 price target on shares of BlackRock in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods cut shares of BlackRock from a "moderate buy" rating to a "hold" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,304.35.

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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