Farther Finance Advisors LLC increased its holdings in BlackRock (NYSE:BLK – Free Report) by 358.3% during the third quarter, Holdings Channel.com reports. The firm owned 20,102 shares of the asset manager’s stock after acquiring an additional 15,716 shares during the quarter. Farther Finance Advisors LLC’s holdings in BlackRock were worth $21,274,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. RMG Wealth Management LLC purchased a new position in shares of BlackRock in the first quarter worth about $25,000. Addison Advisors LLC purchased a new stake in BlackRock during the 2nd quarter valued at about $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in BlackRock during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in BlackRock in the 2nd quarter worth approximately $30,000. Finally, Wilkerson Advisory Group LLC increased its stake in BlackRock by 100.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager’s stock worth $33,000 after purchasing an additional 17 shares during the period. 80.69% of the stock is owned by institutional investors.
BlackRock Trading Down 0.2%
Shares of BLK traded down $2.54 during mid-day trading on Thursday, hitting $1,067.09. 437,357 shares of the company’s stock traded hands, compared to its average volume of 740,975. 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 has a 1 year low of $917.39 and a 1 year high of $1,219.94. The firm has a market capitalization of $165.26 billion, a P/E ratio of 25.50, a PEG ratio of 1.22 and a beta of 1.41. The business’s 50-day moving average price is $1,110.65 and its 200-day moving average price is $1,057.36.
BlackRock Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a $5.73 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.1%. BlackRock’s dividend payout ratio is 54.78%.
BlackRock News Roundup
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock’s six-month advance has been supported by record assets under management, strong investor demand and strategic acquisitions. The company’s scale and expanding product lineup remain important long-term growth drivers, although its premium valuation could limit additional upside. BLK Shares Rally 6.8% in Six Months: Is There Further Upside Left?
- Positive Sentiment: BlackRock is reportedly in exclusive discussions to acquire Stack Infrastructure’s Asia-Pacific data-center assets in a potential $20 billion to $25 billion transaction. The deal would increase exposure to AI and cloud-computing infrastructure and could create additional fee-generating opportunities if completed. BlackRock in Exclusive Talks on $20 Billion Data Center Deal
- Positive Sentiment: BlackRock executives continue promoting tokenized money-market funds, stablecoins and digital assets as potential tools for faster settlement and collateral management. These initiatives could broaden the firm’s future asset-management and infrastructure businesses, though adoption remains early.
- Neutral Sentiment: BlackRock’s next quarterly report is expected soon, with Wall Street forecasting year-over-year earnings growth. However, analysis from Zacks indicates the company may lack the combination of estimate revisions and operating momentum typically associated with a likely earnings beat. BlackRock Reports Next Week: Wall Street Expects Earnings Growth
- Negative Sentiment: U.S. spot Bitcoin ETFs recorded approximately $484.9 million in net outflows, with BlackRock’s iShares Bitcoin Trust accounting for $207.7 million of withdrawals. Sustained redemptions could pressure fee revenue and investor sentiment toward BlackRock’s digital-asset expansion. US Bitcoin ETFs See $485 Million Outflow
- Negative Sentiment: BlackRock’s fixed-income chief is positioned for a hawkish Federal Reserve, highlighting the risk of higher-for-longer interest rates. Elevated yields can weigh on asset valuations and market activity, while a law firm’s investor solicitation regarding alleged misleading mutual-fund information adds a separate reputational overhang.
Analyst Ratings Changes
A number of analysts have recently weighed in on BLK shares. Morgan Stanley dropped 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. Barclays lowered 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. UBS Group dropped their price target on shares of BlackRock from $1,320.00 to $1,277.00 and set a “buy” rating for the company in a research report on Wednesday. Evercore reissued an “outperform” rating and issued a $1,260.00 price target on shares of BlackRock in a report on Monday, August 10th. Finally, Keefe, Bruyette & Woods cut shares of BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,303.35.
Check Out Our Latest Stock Analysis on BLK
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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