Viking Fund Management LLC Purchases 3,000 Shares of BlackRock $BLK

Key Points

• Viking Fund Management increased its BlackRock stake by 60% in the third quarter, purchasing 3,000 additional shares for a total of 8,000 shares valued at approximately $8.47 million.
• BlackRock reported strong quarterly results, with EPS of $15.93 exceeding estimates and revenue rising 19.1% year over year to $7.75 billion. Net inflows of $205 billion lifted assets under management to a record $15.49 trillion.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and average price target of $1,308.62, although elevated valuation and interest-rate risks could limit upside.

Viking Fund Management LLC raised its position in BlackRock (NYSE:BLK - Free Report) by 60.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the asset manager's stock after purchasing an additional 3,000 shares during the quarter. Viking Fund Management LLC's holdings in BlackRock were worth $8,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Santa Clara Valley Transportation Authority purchased a new stake in shares of BlackRock during the 2nd quarter worth about $129,138,253,000. BlackRock Inc. acquired a new stake in BlackRock during the 2nd quarter worth approximately $9,747,857,000. Corient Private Wealth LLC raised its holdings in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock valued at $5,876,618,000 after buying an additional 5,386,640 shares during the period. Temasek Holdings Private Ltd raised its holdings 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 valued at $5,126,387,000 after buying an additional 237,667 shares during the period. Finally, Bank of America Corp DE raised 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 buying an additional 35,069 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 0.8%

BLK opened at $1,075.09 on Thursday. The firm has a market capitalization of $166.50 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.20 and a beta of 1.41. The firm's 50 day moving average is $1,106.43 and its 200-day moving average is $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 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 posted its earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping analysts' consensus estimates of $14.32 by $1.61. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.42 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company posted $8.43 earnings per share. Analysts expect that BlackRock will post 55.70 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were paid 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 yield of 2.1%. BlackRock's payout ratio is 54.78%.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Quarterly beat and strong inflows: 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. Net inflows reached $205 billion, including $135 billion into ETFs, helping push assets under management to a record $15.49 trillion. BlackRock profit jumps as resilient markets boost fees
• Positive Sentiment: Growth outlook remains constructive: Management pointed to continued momentum in iShares ETFs, private-markets fundraising, technology revenue and performance fees. BlackRock’s crypto ETF assets also reportedly climbed 63% to approximately $80 billion, adding to fee-growth potential. BlackRock expects strong fourth quarter
• Positive Sentiment: Analyst price target raised: Bank of America reiterated a Buy rating and increased its price target from $1,287 to $1,313, citing strong third-quarter results and surging ETF inflows. BlackRock earns Buy rating and higher price target
• Neutral Sentiment: Strategic expansion: BlackRock is deploying capital across private markets, including a $2.8 billion CenterWell clinic joint venture with Humana and investments in technology and infrastructure. These moves broaden long-term fee opportunities but may require significant capital and execution. Humana forms joint venture with BlackRock
• Negative Sentiment: Rate and valuation risks: BlackRock has reduced U.S. stock exposure and favored Treasuries, warning that markets may be pricing in too many Federal Reserve rate hikes. Other commentary highlights emerging yield risks, while the stock’s elevated valuation could limit upside if markets weaken. BlackRock cuts U.S. stock exposure

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research reports. UBS Group cut their target price on shares of BlackRock from $1,320.00 to $1,277.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $1,364.00 to $1,435.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 6th. BNP Paribas Exane increased their price target on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Weiss Ratings lowered BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Zacks Research cut BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. One research 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 stock. According to data from MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,308.62.

BlackRock Company 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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