BlackRock $BLK Stock Acquired by Krilogy Financial LLC

Key Points

• Krilogy Financial increased its BlackRock position by 57.1% in the third quarter, adding 2,630 shares to own 7,237 shares valued at approximately $7.66 million.
• Institutional investors hold approximately 80.69% of BlackRock’s outstanding shares, while analysts maintain a “Moderate Buy” consensus with an average price target of $1,309.88.
• BlackRock shares opened at $1,068.07, down 1.5%, despite strong recent earnings and a quarterly dividend equivalent to a 2.1% annual yield; upcoming third-quarter results are viewed as a potential catalyst.

Krilogy Financial LLC raised its position in BlackRock (NYSE:BLK - Free Report) by 57.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,237 shares of the asset manager's stock after buying an additional 2,630 shares during the quarter. Krilogy Financial LLC's holdings in BlackRock were worth $7,659,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of BLK. Santa Clara Valley Transportation Authority acquired a new stake in shares of BlackRock in the second quarter valued at approximately $129,138,253,000. BlackRock Inc. purchased a new position in shares of BlackRock during the second quarter valued at approximately $9,747,857,000. Corient Private Wealth LLC boosted its position in BlackRock by 5,190.3% during 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 acquiring an additional 5,386,640 shares during the last quarter. Temasek Holdings Private Ltd grew its stake in BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager's stock worth $5,126,387,000 after acquiring an additional 237,667 shares during the period. Finally, Bank of America Corp DE increased its stake in BlackRock by 0.7% in the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager's stock valued at $5,032,603,000 after purchasing an additional 35,069 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Key BlackRock News

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?

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company cut 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, October 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,258.00 target price on shares of BlackRock in a research note on Thursday, July 16th. BMO Capital Markets increased their target price on BlackRock from $1,250.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, July 17th. Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. increased their price target on BlackRock from $1,364.00 to $1,435.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 6th. One equities 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,309.88.

BlackRock Stock Down 1.5%

BLK stock opened at $1,068.07 on Wednesday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The company's 50 day simple moving average is $1,107.58 and its 200-day simple moving average is $1,060.27. 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 capitalization of $165.41 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.22 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating analysts' consensus estimates of $12.69 by $1.22. The firm 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 firm's revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm posted $12.05 earnings per share. As a group, equities research analysts anticipate that BlackRock will post 55.69 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were paid a $5.73 dividend. 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 dividend payout ratio (DPR) is presently 54.78%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.