BlackRock $BLK Stock Acquired by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its BlackRock stake by 3.8% in the third quarter, adding 1,302 shares to hold 35,425 shares valued at about $37.5 million.
• Analysts give BlackRock a consensus “Moderate Buy” rating, with an average price target of $1,342.25; recent rating changes included TD Cowen upgrading the stock to Buy.
• BlackRock’s latest quarterly results beat expectations: earnings were $15.93 per share versus a $14.32 consensus, while revenue rose 19.1% year over year to $7.75 billion.

Kestra Advisory Services LLC lifted its holdings in BlackRock (NYSE:BLK - Free Report) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,425 shares of the asset manager's stock after purchasing an additional 1,302 shares during the period. Kestra Advisory Services LLC's holdings in BlackRock were worth $37,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BLK. Summit Wealth Group LLC Co. grew its position in shares of BlackRock by 2.8% during the 3rd quarter. Summit Wealth Group LLC Co. now owns 331 shares of the asset manager's stock valued at $350,000 after acquiring an additional 9 shares during the period. Stronghold Wealth Management L.L.C. grew its holdings in BlackRock by 2.9% during the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager's stock valued at $345,000 after purchasing an additional 10 shares during the period. Financial Management Professionals Inc. increased its position in BlackRock by 1.8% in the second quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager's stock worth $542,000 after buying an additional 10 shares in the last quarter. JNBA Financial Advisors increased its position in BlackRock by 1.4% in the second quarter. JNBA Financial Advisors now owns 706 shares of the asset manager's stock worth $679,000 after buying an additional 10 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its stake in shares of BlackRock by 0.8% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager's stock worth $1,275,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,435.00 to $1,449.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Barclays lowered their target price on shares of BlackRock from $1,420.00 to $1,410.00 and set an "overweight" rating on the stock in a research note on Thursday, October 15th. BMO Capital Markets upped their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a report on Monday, October 19th. BNP Paribas Exane increased their price target on BlackRock from $1,370.00 to $1,430.00 and gave the stock an "outperform" rating in a research note on Thursday, October 15th. Finally, TD Cowen raised BlackRock from a "hold" rating to a "buy" rating and raised their price target for the company from $1,212.00 to $1,405.00 in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,342.25.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock executives described potential shifts in equity markets and opportunities in AI-related debt financing. The company also said political changes following the U.S. midterms will not alter its crypto strategy, signaling continuity in its digital-asset plans. Rieder on equity rebalancing BlackRock’s crypto strategy
• Positive Sentiment: Preqin, BlackRock’s private-markets data business, is partnering with an AI-powered capital-introduction platform. The collaboration may extend the reach of its institutional data offering, though the financial impact is not specified. Preqin and iConnections collaboration
• Neutral Sentiment: Larry Fink argued that workers have fallen behind investors, prompting discussion of pay, investment returns and market ownership. This is a broader economic commentary rather than a direct update on BlackRock’s earnings or outlook. Larry Fink on workers and investors
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) continued to see withdrawals even as some reports described a rebound in overall crypto ETF flows. Further outflows could pressure fund assets and related fee revenue, although the reports do not quantify a material effect on BlackRock’s overall results. BlackRock ETF withdrawals

BlackRock Price Performance

NYSE BLK traded up $7.65 during trading hours on Friday, reaching $1,178.32. The company's stock had a trading volume of 521,271 shares, compared to its average volume of 691,463. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,242.12. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $182.49 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.21 and a beta of 1.37. The firm's 50-day moving average price is $1,104.90 and its 200-day moving average price is $1,065.48.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.32 by $1.61. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The company's revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm posted $8.43 EPS. On average, equities research analysts predict that BlackRock will post 57.82 EPS for the current fiscal year.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world.

BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.

The company also provides Aladdin, a technology platform used by investors and financial institutions for portfolio management, operations and risk analysis.

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