BlackRock $BLK Stock Acquired by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC increased its BlackRock position by 5,955.1% in the third quarter, bringing its holdings to 14,835 shares valued at approximately $15.7 million. Institutional investors collectively own 80.69% of BLK.
• BlackRock’s latest quarterly results exceeded expectations, with earnings of $15.93 per share and revenue of $7.75 billion, up 19.1% year over year. The company also declared an annualized dividend of $22.92 per share, yielding about 2.0%.
• Analysts remain broadly bullish, giving BlackRock a consensus “Moderate Buy” rating and an average price target of $1,312.06, despite competition in low-cost ETFs and continued outflows from Ethereum funds.

SteelPeak Wealth LLC boosted its position in BlackRock (NYSE:BLK - Free Report) by 5,955.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,835 shares of the asset manager's stock after purchasing an additional 14,590 shares during the period. SteelPeak Wealth LLC's holdings in BlackRock were worth $15,700,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BLK. IFP Advisors Inc boosted its stake in shares of BlackRock by 109.1% during the third quarter. IFP Advisors Inc now owns 10,675 shares of the asset manager's stock valued at $11,297,000 after purchasing an additional 5,570 shares in the last quarter. ShoreHaven Wealth Partners LLC grew its holdings in shares of BlackRock by 4.3% during the third quarter. ShoreHaven Wealth Partners LLC now owns 312 shares of the asset manager's stock worth $330,000 after purchasing an additional 13 shares during the last quarter. Lee Financial Co increased its stake in shares of BlackRock by 1.8% in the third quarter. Lee Financial Co now owns 1,348 shares of the asset manager's stock valued at $1,427,000 after buying an additional 24 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of BlackRock by 1,786.8% in the third quarter. Frank Rimerman Advisors LLC now owns 10,868 shares of the asset manager's stock valued at $11,501,000 after buying an additional 10,292 shares during the period. Finally, AlphaStar Capital Management LLC bought a new position in BlackRock in the 3rd quarter valued at approximately $224,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

Shares of BLK stock opened at $1,133.07 on Friday. The business's 50 day simple moving average is $1,106.23 and its 200 day simple moving average is $1,062.85. BlackRock has a one year low of $917.39 and a one year high of $1,187.17. The stock has a market capitalization of $175.48 billion, a PE ratio of 25.76, a PEG ratio of 1.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, beating analysts' consensus estimates of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the firm posted $8.43 EPS. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, research analysts forecast that BlackRock will post 57.47 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were given a $5.73 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. BlackRock's payout ratio is 52.11%.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Q3 results support the rally. BlackRock reported adjusted earnings of $15.93 per share, exceeding the $14.32 consensus estimate, while revenue of $7.75 billion also topped expectations and increased 19.1% year over year. Improved operating income and margins helped ease concerns about profitability. BlackRock Stock Jumps as Q3 Earnings Power Margin Recovery
• Positive Sentiment: Record inflows point to continued organic growth. BlackRock attracted approximately $205 billion in net new client assets during the quarter, lifting assets under management to roughly $15.5 trillion. Broad ETF demand, fixed income, private markets and technology fees are diversifying the company’s revenue base. How Record Inflows at BlackRock Have Changed Its Investment Story
• Positive Sentiment: Analysts raised their expectations. JPMorgan increased its price target to $1,449 and maintained an Overweight rating, while Keefe, Bruyette & Woods raised its target to $1,310 with an Outperform rating. Bank of America also reiterated a Buy rating and lifted its target to $1,313, citing strong earnings and ETF inflows. Analysts Boost Forecasts on BlackRock
• Positive Sentiment: AI infrastructure could create new fee opportunities. Management highlighted financing for data centers and compute infrastructure, along with growth in higher-fee products, as potential longer-term earnings drivers. CEO Larry Fink’s support for continued data-center construction reinforces BlackRock’s positioning in this investment theme. BlackRock Sees Large Opportunity in Developing Compute Market
• Neutral Sentiment: BlackRock disclosed portfolio changes involving stakes in Qiagen, Suzano, Caledonia Mining and Fagron. These transactions demonstrate ongoing investment activity but are not expected to materially affect BLK’s earnings.
• Negative Sentiment: Ethereum ETFs experienced another day of net redemptions, led by BlackRock’s ETHA. Persistent crypto-fund outflows could pressure short-term fee revenue, although the impact is limited relative to BlackRock’s broader platform. Ethereum ETFs See Outflows
• Negative Sentiment: BlackRock faces tougher competition in low-cost Nasdaq-100 ETFs from State Street and other providers, while early inflows remain limited and trading volumes trail the established QQQ product. QQQ vs. Cheaper Nasdaq-100 ETFs

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BLK shares. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an "outperform" rating in a research report on Thursday. UBS Group boosted their target price on shares of BlackRock from $1,277.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday. Truist Financial set a $1,310.00 price target on shares of BlackRock in a research report on Thursday. Barclays dropped their price target on shares of BlackRock from $1,420.00 to $1,410.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Morgan Stanley cut their price target on shares of BlackRock from $1,479.00 to $1,468.00 and set an "overweight" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus price target of $1,312.06.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.

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.