BlackRock $BLK Stock Holdings Increased by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in shares of BlackRock (NYSE:BLK) by 9,272.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the asset manager’s stock after purchasing an additional 98,933 shares during the period. International Assets Investment Management LLC owned 0.06% of BlackRock worth $1,096,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stronghold Wealth Management L.L.C. boosted its position in shares of BlackRock by 2.9% during the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock worth $345,000 after acquiring an additional 10 shares during the last quarter. Financial Management Professionals Inc. grew its stake in BlackRock by 1.8% during the second quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager’s stock valued at $542,000 after acquiring an additional 10 shares in the last quarter. JNBA Financial Advisors increased its holdings in BlackRock by 1.4% in the 2nd quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock valued at $679,000 after acquiring an additional 10 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in BlackRock by 0.8% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager’s stock valued at $1,275,000 after acquiring an additional 10 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in BlackRock by 2.9% in the 3rd quarter. Revolve Wealth Partners LLC now owns 360 shares of the asset manager’s stock worth $381,000 after purchasing an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. BNP Paribas Exane raised their price objective on BlackRock from $1,370.00 to $1,430.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,315.00 to $1,355.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. BMO Capital Markets increased their price target on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. Keefe, Bruyette & Woods raised their price target on BlackRock from $1,290.00 to $1,310.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Finally, Wells Fargo & Company lifted their price objective on BlackRock from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,342.25.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reported quarterly earnings of $15.93 per share, above the $14.32 analyst consensus, and revenue of $7.75 billion versus $7.42 billion expected. Revenue grew 19.1% year over year, providing a fundamental counterweight to concerns about Bitcoin-fund outflows.
• Neutral Sentiment: The launch of an actively managed iShares robotics and related technologies ETF expands BlackRock’s product lineup in a growth-oriented area. The accompanying analysis cautions, however, that BLK shares could be overvalued, tempering the potential positive signal. Read the article
• Neutral Sentiment: Bank Julius Baer increased its BlackRock stake by 4.1% in the third quarter. The institutional purchase may indicate confidence, but it was disclosed in a routine filing and is not necessarily a near-term catalyst. Read the article
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) saw $405.3 million in net outflows on Nov. 2, its largest daily withdrawal since June. Total outflows from U.S. spot Bitcoin ETFs were $398.6 million, highlighting redemption pressure that could weaken demand for the product and related fee revenue. Read the article

BlackRock Trading Up 5.5%

Shares of NYSE BLK opened at $1,225.33 on Thursday. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,231.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The business’s 50 day moving average is $1,104.75 and its two-hundred day moving average is $1,065.11. The stock has a market capitalization of $189.77 billion, a P/E ratio of 27.86, a PEG ratio of 1.20 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.32 by $1.61. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the company earned $8.43 EPS. As a group, research analysts expect that BlackRock will post 57.82 EPS for the current year.

BlackRock Profile

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.