MassMutual Private Wealth & Trust FSB Acquires 1,904 Shares of BlackRock $BLK

Key Points

• MassMutual Private Wealth & Trust FSB increased its BlackRock stake by 11.5% in the third quarter, adding 1,904 shares to own 18,454 shares valued at approximately $19.53 million.
• Institutional investors hold 80.69% of BlackRock’s stock. The company’s latest quarterly results exceeded expectations, with $13.91 in EPS and $7.08 billion in revenue, up 30.6% year over year.
• BlackRock pays a quarterly dividend of $5.73 per share, equivalent to a 2.2% annualized yield. Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus rating and an average price target of $1,304.35.

MassMutual Private Wealth & Trust FSB raised its stake in BlackRock (NYSE:BLK - Free Report) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,454 shares of the asset manager's stock after purchasing an additional 1,904 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in BlackRock were worth $19,530,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BLK. BlackRock Inc. acquired a new stake in BlackRock in the second quarter valued at about $9,747,857,000. State Street Corp boosted its stake in shares of BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager's stock valued at $6,705,193,000 after buying an additional 33,752 shares in the last quarter. Corient Private Wealth LLC grew its holdings 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 period. Temasek Holdings Private Ltd raised its position in BlackRock by 4.7% in the first 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 in the last quarter. Finally, Bank of America Corp DE lifted its holdings 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 acquiring an additional 35,069 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Trading Up 0.0%

Shares of BLK opened at $1,059.72 on Monday. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a market capitalization of $164.12 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41. The stock has a fifty day moving average of $1,111.19 and a two-hundred day moving average of $1,055.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.73 billion. During the same period last year, the company earned $12.05 earnings per share. The company's quarterly revenue was up 30.6% on a year-over-year basis. As a group, analysts forecast that BlackRock will post 55.9 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced 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 was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. BlackRock's payout ratio is presently 54.78%.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock expects continued asset growth in Brazil regardless of the country’s election outcome, with management reportedly targeting approximately 30% growth. This supports the company’s international expansion and fee-generating asset base. BlackRock expects to sustain asset growth in Brazil regardless of election outcome
• Positive Sentiment: Analysts remain broadly constructive ahead of BlackRock’s October 14 earnings report, forecasting about $14.25 in third-quarter EPS and $7.56 billion in revenue. The outlook could provide a catalyst if results exceed expectations. BlackRock Gears Up For Q3 Print
• Positive Sentiment: BlackRock’s digital-asset initiatives continue to expand: tokenized BlackRock shares are being brought to Solana, while the BUIDL fund is expanding its multi-chain infrastructure. These developments may strengthen the firm’s position in tokenized securities and blockchain-based cash management. Backpack brings tokenized BlackRock shares to Solana

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price target on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Zacks Research cut shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. BMO Capital Markets upped their price target on BlackRock from $1,250.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, July 17th. Finally, Evercore reaffirmed an "outperform" rating and issued a $1,260.00 price objective on shares of BlackRock in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,304.35.

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.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

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.