BlackRock $BLK Stock Acquired by Everhart Financial Group Inc.

Key Points

• Everhart Financial Group increased its BlackRock position by 872% in the third quarter, purchasing 10,700 additional shares for a total of 11,927 shares valued at approximately $12.6 million.
• Other institutional investors also added or initiated BlackRock holdings, with institutional investors and hedge funds collectively owning 80.69% of the company.
• BlackRock shares recently traded near $1,065, while analysts maintain a “Moderate Buy” consensus and an average price target of $1,303.35; the company also pays a quarterly dividend of $5.73 per share.

Everhart Financial Group Inc. increased its position in BlackRock (NYSE:BLK - Free Report) by 872.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,927 shares of the asset manager's stock after purchasing an additional 10,700 shares during the period. BlackRock comprises about 0.8% of Everhart Financial Group Inc.'s investment portfolio, making the stock its 19th biggest holding. Everhart Financial Group Inc.'s holdings in BlackRock were worth $12,622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Capital Management LLC acquired a new position in shares of BlackRock during the second quarter valued at about $33,847,000. Varma Mutual Pension Insurance Co acquired a new stake in BlackRock during the second quarter worth about $28,185,000. Haverford Trust Co bought a new position in BlackRock during the second quarter valued at about $264,500,000. Liberty One Investment Management LLC raised its holdings in BlackRock by 30.7% in the 1st quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager's stock valued at $4,675,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Basswood Capital Management L.L.C. acquired a new position in BlackRock in the 2nd quarter valued at approximately $23,122,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Key BlackRock News

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 Price Performance

Shares of BlackRock stock traded down $4.19 during mid-day trading on Thursday, reaching $1,065.44. 177,615 shares of the stock were exchanged, compared to its average volume of 739,552. The company has a market cap of $165.00 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. 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 50-day simple moving average of $1,110.65 and a 200 day simple moving average of $1,057.36.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock's dividend payout ratio (DPR) is currently 54.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BLK. Wells Fargo & Company decreased their price objective on BlackRock from $1,245.00 to $1,230.00 and set an "overweight" rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $1,258.00 target price on shares of BlackRock in a research report on Thursday, July 16th. 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. BNP Paribas Exane increased their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Finally, Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,303.35.

BlackRock Profile

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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