First Pacific Financial Buys 24,790 Shares of BlackRock $BLK

Key Points

• First Pacific Financial significantly increased its BlackRock stake by purchasing 24,790 shares in the third quarter, bringing its holdings to 25,668 shares valued at approximately $27.2 million.
• BlackRock exceeded quarterly earnings expectations, reporting EPS of $15.93 versus the $14.32 consensus and revenue of $7.75 billion, up 19.1% year over year.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,308.62; the company also offers a $5.73 quarterly dividend, yielding about 2.1% annually.

First Pacific Financial boosted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 2,823.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,668 shares of the asset manager's stock after purchasing an additional 24,790 shares during the quarter. BlackRock comprises 2.8% of First Pacific Financial's portfolio, making the stock its 10th largest holding. First Pacific Financial's holdings in BlackRock were worth $27,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Santa Clara Valley Transportation Authority bought a new stake in shares of BlackRock during the 2nd quarter worth $129,138,253,000. BlackRock Inc. bought a new position in BlackRock in the 2nd quarter worth $9,747,857,000. Corient Private Wealth LLC raised its holdings in BlackRock by 5,190.3% in the 4th 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 period. Temasek Holdings Private Ltd lifted its position in BlackRock by 4.7% during 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 last quarter. Finally, Bank of America Corp DE lifted its position in BlackRock by 0.7% during the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager's stock worth $5,032,603,000 after acquiring an additional 35,069 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on BLK. Barclays decreased their price target on shares of BlackRock from $1,450.00 to $1,420.00 and set an "overweight" rating for the company in a report on Wednesday, October 7th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,389.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. Zacks Research lowered BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. BMO Capital Markets boosted their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,258.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,308.62.

BlackRock Stock Performance

BlackRock stock opened at $1,075.09 on Thursday. The firm has a market capitalization of $166.50 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.20 and a beta of 1.41. The stock has a fifty day moving average price of $1,106.43 and a two-hundred day moving average price of $1,061.02. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. 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 issued its earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating the consensus estimate of $14.32 by $1.61. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.43 EPS. As a group, analysts anticipate that BlackRock will post 55.70 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a dividend of $5.73 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. BlackRock's dividend payout ratio (DPR) is presently 54.78%.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Broad earnings beat: BlackRock reported adjusted EPS of $15.93, above the $14.32 consensus estimate, while revenue rose 19.1% year over year to $7.75 billion versus expectations of $7.42 billion. Adjusted profit increased approximately 38%, marking another significant year-over-year improvement. BlackRock profit jumps as resilient markets boost fees
• Positive Sentiment: Record scale and strong inflows: Assets under management reached approximately $15.5 trillion, helped by $205 billion of quarterly net inflows, including $135 billion into ETFs. Strong institutional demand, higher asset valuations and continued iShares growth support future fee revenue. BlackRock pulls in $205bn to take assets to record high
• Positive Sentiment: Growth opportunities beyond traditional ETFs: Management pointed to continued momentum in private-markets fundraising, technology revenue, crypto ETFs and AI-related infrastructure investing. BlackRock also expects a seasonally strong fourth quarter, which reinforces the market’s view that growth can continue. BlackRock Expects Strong Fourth Quarter as AI Investment, Fundraising Grow
• Positive Sentiment: Private-market expansion: BlackRock’s capital commitments to areas such as infrastructure, private credit and Humana’s CenterWell clinic joint venture could broaden higher-fee revenue streams, although these initiatives are longer-term contributors. Humana Forms Joint Venture With BlackRock for 150 Senior Care Clinics
• Neutral Sentiment: Investment-positioning change: BlackRock has reduced its U.S. stock exposure and upgraded short-term Treasuries, arguing that bond yields are attractive and markets may be overestimating future Federal Reserve rate hikes. This may benefit fixed-income demand but also signals caution about near-term equity markets. BlackRock cools on US stocks, turns bullish on short-dated Treasuries
• Negative Sentiment: Rate and inflation risks remain an overhang: A hotter CPI reading pushed Treasury yields higher, potentially pressuring asset valuations and fee revenue. CEO Larry Fink’s warning that a data-center construction moratorium could trigger a recession also highlights BlackRock’s exposure to the AI investment cycle and related market risks. BlackRock's Larry Fink warns a data center moratorium could trigger a recession

About BlackRock

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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