RFG Bristol Wealth Advisors LLC Purchases 5,650 Shares of BlackRock $BLK

Key Points

• RFG Bristol Wealth Advisors increased its BlackRock stake by 865.2% in the third quarter, acquiring 5,650 additional shares for a total of 6,303 shares valued at approximately $6.67 million.
• BlackRock recently reported strong results, with quarterly EPS of $13.91 beating estimates and revenue rising 30.6% year over year. The company also pays an annualized dividend of $22.92 per share, yielding about 2.1%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,304.24, although valuation, rising expenses, potentially lower performance fees and digital-asset outflows remain risks.

RFG Bristol Wealth Advisors LLC boosted its position in BlackRock (NYSE:BLK - Free Report) by 865.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,303 shares of the asset manager's stock after acquiring an additional 5,650 shares during the period. BlackRock accounts for 1.6% of RFG Bristol Wealth Advisors LLC's portfolio, making the stock its 17th largest position. RFG Bristol Wealth Advisors LLC's holdings in BlackRock were worth $6,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. RMG Wealth Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at about $25,000. Addison Advisors LLC bought a new stake in shares of BlackRock during the second quarter worth approximately $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in BlackRock in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in BlackRock in the second quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in BlackRock during the 4th quarter worth $36,000. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Up 1.5%

Shares of NYSE:BLK traded up $15.92 during mid-day trading on Friday, reaching $1,081.27. 376,865 shares of the stock were exchanged, compared to its average volume of 739,104. The stock's 50 day simple moving average is $1,109.77 and its 200-day simple moving average is $1,058.29. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a market cap of $167.46 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.21 and a beta of 1.41. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating the consensus estimate of $12.69 by $1.22. The firm had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The business's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $12.05 EPS. As a group, equities research analysts predict that BlackRock will post 55.73 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock's payout ratio is currently 54.78%.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded BlackRock from “hold” to “moderate buy,” providing a fresh positive analyst signal. The upgrade likely reflects confidence in BlackRock’s earnings outlook and long-term asset-management growth. BlackRock analyst upgrade reference
• Positive Sentiment: Expectations for the upcoming third-quarter report are constructive. Analysts anticipate higher revenue, earnings and assets under management, while BlackRock’s strong earnings-surprise history and favorable Earnings ESP support the possibility of another consensus beat. BlackRock earnings beat outlook
• Positive Sentiment: Record assets under management, strategic acquisitions and demand for BlackRock’s products continue to support the growth narrative. The company’s recent earnings also showed substantial year-over-year revenue growth and a sizable EPS beat, reinforcing fundamental momentum. BlackRock growth and valuation analysis
• Neutral Sentiment: BlackRock disclosed a substantial voting stake in Qiagen (QGEN). The filing confirms an ownership position but does not, by itself, indicate a material change to BlackRock’s operating outlook. BlackRock voting stake in Qiagen
• Negative Sentiment: Valuation is a key risk after BlackRock’s multiyear share-price advance. Commentary describes the stock as fairly valued or trading at a premium, meaning additional gains may require continued improvement in returns, AUM and earnings. BlackRock valuation analysis
• Negative Sentiment: Expected increases in operating expenses and potentially lower performance fees could offset some of the benefit from higher revenue, earnings and AUM. Separately, substantial outflows from U.S. spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, may weigh on sentiment toward its digital-assets franchise. BlackRock third-quarter earnings risks

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BLK shares. Weiss Ratings downgraded BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Morgan Stanley decreased their price objective on BlackRock from $1,488.00 to $1,479.00 and set an "overweight" rating for the company in a research note on Friday, September 25th. UBS Group dropped their price objective on BlackRock from $1,320.00 to $1,277.00 and set a "buy" rating for the company in a report on Wednesday. Barclays cut their target price on BlackRock from $1,450.00 to $1,420.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $1,364.00 to $1,435.00 and gave the stock an "overweight" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,304.24.

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.

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