Vise Technologies Inc. boosted its position in BlackRock (NYSE:BLK – Free Report) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,233 shares of the asset manager’s stock after purchasing an additional 1,513 shares during the period. Vise Technologies Inc.’s holdings in BlackRock were worth $15,062,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in BLK. RMG Wealth Management LLC purchased a new position in shares of BlackRock during the 1st quarter worth approximately $25,000. Addison Advisors LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at approximately $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of BlackRock in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in BlackRock in the second quarter valued at $30,000. Finally, Wilkerson Advisory Group LLC lifted its holdings in BlackRock by 100.0% in the first quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Wall Street Analysts Forecast Growth
BLK has been the topic of a number of recent analyst reports. BNP Paribas Exane upped their price target on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Barclays reduced their price objective on shares of BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. Weiss Ratings downgraded shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Bank of America decreased their price objective on shares of BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. Finally, TD Cowen upgraded shares of BlackRock from a “hold” rating to a “buy” rating and upped their target price for the stock from $1,212.00 to $1,405.00 in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,342.25.
Read Our Latest Analysis on BlackRock
BlackRock Stock Up 0.0%
BlackRock stock opened at $1,147.61 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market capitalization of $177.73 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,187.17. The stock’s fifty day moving average is $1,103.88 and its two-hundred day moving average is $1,064.04.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.32 by $1.61. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the previous year, the company posted $8.43 EPS. The business’s revenue was up 19.1% on a year-over-year basis. Analysts predict that BlackRock will post 57.82 EPS for the current fiscal year.
Key Stories Impacting BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: Private-market assets are projected to exceed $34 trillion by 2031, supporting BlackRock’s long-term growth opportunity in private equity, private credit and other alternative investments. Private markets assets forecast to exceed $34tn by 2031, says Preqin
- Positive Sentiment: BlackRock disclosed that its ownership of OMV rose above 5%, indicating increased exposure to the energy company, although the investment’s direct effect on BlackRock’s earnings is likely limited. BlackRock Lifts OMV Stake Above 5% Threshold
- Neutral Sentiment: BlackRock’s closed-end funds announced estimated distribution sources. The disclosure is routine and mainly provides investors with information about income, capital gains and potential return of capital. Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
- Neutral Sentiment: The SEC is reviewing whether existing ETF rules adequately cover newer crypto products beyond bitcoin and ether. Clearer regulation could benefit BlackRock over time, but uncertainty may slow product development in the near term. Crypto ETFs Already Go Far Beyond Bitcoin. The SEC Wants to Know If Its Rules Have Kept Up
- Negative Sentiment: A reported $6.3 billion Binance security breach triggered a crypto-market shock, sending BlackRock’s iShares Bitcoin Trust (IBIT) lower. Falling crypto prices can reduce ETF assets under management and fee revenue while damaging sentiment toward BlackRock’s digital-asset expansion. Binance’s $6.3B Hack Sends Bitcoin ETF Tumbling 5%
About BlackRock
BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.
BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.
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