BlackRock $BLK Stock Position Raised by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its BlackRock position by 258.2% in the third quarter, owning 2,081 shares valued at approximately $2.2 million. Institutional investors and hedge funds collectively own 80.69% of BLK.
• BlackRock exceeded quarterly expectations, reporting $15.93 in earnings per share and $7.75 billion in revenue, with revenue rising 19.1% year over year. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,337.19.
• The company continues expanding its growth platforms through Bitcoin and robotics ETFs, private-market investments, and tokenization initiatives, though macroeconomic risks and a reported transfer of crypto assets to Coinbase Prime remain potential concerns.

Sterling Capital Management LLC boosted its position in BlackRock (NYSE:BLK - Free Report) by 258.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,081 shares of the asset manager's stock after purchasing an additional 1,500 shares during the period. Sterling Capital Management LLC's holdings in BlackRock were worth $2,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLK. RMG Wealth Management LLC purchased a new position in BlackRock during the 1st quarter valued at about $25,000. Addison Advisors LLC purchased a new stake in BlackRock in the 2nd quarter valued at approximately $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in BlackRock during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in BlackRock during the 2nd quarter valued at $30,000. Finally, Wilkerson Advisory Group LLC increased its position in BlackRock by 100.0% during the first quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager's stock worth $33,000 after buying an additional 17 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETFs were among the leading beneficiaries of a three-day buying streak, with U.S. Bitcoin ETFs attracting $524.8 million on October 21. Sustained inflows can increase assets under management and fee revenue for BlackRock. Bitcoin ETFs Draw $524.8 Million As BlackRock And Fidelity Lead
• Positive Sentiment: The company filed for the iShares Bitcoin Managed Protection ETF, designed to provide Bitcoin exposure with downside-management features, and launched an actively managed robotics ETF. The products broaden BlackRock’s crypto, artificial-intelligence, and thematic ETF lineup and could support future asset gathering. BlackRock Files Bitcoin Protection ETF And Launches Active Robotics Fund
• Positive Sentiment: BlackRock’s HPS Investment Partners plans to invest up to $434.6 million in TBS Energi Utama, highlighting continued expansion of its private-markets and alternative-investment platform. BlackRock's HPS Investment Partners to Invest Up to $434.6 million in TBS Energi Utama
• Neutral Sentiment: BlackRock joined the Depository Trust & Clearing Corporation’s tokenization initiative with Ripple Prime and JPMorgan. The move strengthens BlackRock’s institutional digital-asset positioning, although its effect on fee revenue and earnings remains uncertain. Ripple Joined DTCC’s Tokenization Push
• Negative Sentiment: CEO Larry Fink warned that a slowdown in data-center construction could raise inflation and contribute to a U.S. recession, adding to macroeconomic concerns for asset managers and markets. Larry Fink Warns Data Center Slowdown Could Push US Into Recession
• Negative Sentiment: The reported transfer of crypto assets to Coinbase Prime may be viewed as a possible liquidation signal, even though there is no confirmation that BlackRock or its ETF investors are selling. BlackRock Moved $262 Million in Bitcoin to Coinbase

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,315.00 to $1,355.00 and gave the stock a "buy" rating in a report on Thursday, October 15th. Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the company an "outperform" rating in a research note on Thursday, October 15th. Truist Financial set a $1,310.00 price objective on BlackRock in a research report on Thursday, October 15th. Zacks Research cut BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $1,435.00 to $1,449.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. One 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 stock. According to MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average price target of $1,337.19.

BlackRock Trading Down 0.1%

Shares of BlackRock stock opened at $1,117.12 on Monday. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,187.17. The business's fifty day moving average is $1,103.45 and its two-hundred day moving average is $1,069.70. 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 firm has a market cap of $173.01 billion, a PE ratio of 25.40, a P/E/G ratio of 1.16 and a beta of 1.41.

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, topping the consensus estimate of $14.32 by $1.61. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The firm's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business posted $8.43 earnings per share. Analysts anticipate that BlackRock will post 57.82 earnings per share for the current year.

BlackRock Company 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.

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