BlackRock $BLK Stock Acquired by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lifted its position in BlackRock (NYSE:BLK) by 26.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,136 shares of the asset manager’s stock after buying an additional 450 shares during the quarter. Washington Trust Advisors Inc.’s holdings in BlackRock were worth $2,261,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BLK. RMG Wealth Management LLC acquired a new stake in BlackRock in the first quarter valued at approximately $25,000. Addison Advisors LLC bought a new stake in BlackRock in the second quarter worth approximately $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in BlackRock in the second quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new position in shares of BlackRock during the 2nd quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of BlackRock during the 4th quarter worth $36,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK traded down $20.17 during trading hours on Friday, hitting $1,117.12. 813,322 shares of the stock were exchanged, compared to its average volume of 653,376. 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 company’s 50 day moving average is $1,103.45 and its 200 day moving average is $1,068.93. The firm has a market capitalization of $173.01 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.18 and a beta of 1.41. BlackRock has a one year low of $917.39 and a one year high of $1,187.17.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping the consensus estimate of $14.32 by $1.61. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the firm posted $8.43 EPS. On average, research analysts expect that BlackRock will post 57.82 EPS for the current year.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETFs were among the leading beneficiaries of a three-day buying streak, with U.S. Bitcoin ETFs attracting $524.8 million on October 21. Sustained inflows can increase assets under management and fee revenue for BlackRock. Bitcoin ETFs Draw $524.8 Million As BlackRock And Fidelity Lead
• Positive Sentiment: The company filed for the iShares Bitcoin Managed Protection ETF, designed to provide Bitcoin exposure with downside-management features, and launched an actively managed robotics ETF. The products broaden BlackRock’s crypto, artificial-intelligence, and thematic ETF lineup and could support future asset gathering. BlackRock Files Bitcoin Protection ETF And Launches Active Robotics Fund
• Positive Sentiment: BlackRock’s HPS Investment Partners plans to invest up to $434.6 million in TBS Energi Utama, highlighting continued expansion of its private-markets and alternative-investment platform. BlackRock’s HPS Investment Partners to Invest Up to $434.6 million in TBS Energi Utama
• Neutral Sentiment: BlackRock joined the Depository Trust & Clearing Corporation’s tokenization initiative with Ripple Prime and JPMorgan. The move strengthens BlackRock’s institutional digital-asset positioning, although its effect on fee revenue and earnings remains uncertain. Ripple Joined DTCC’s Tokenization Push
• Negative Sentiment: CEO Larry Fink warned that a slowdown in data-center construction could raise inflation and contribute to a U.S. recession, adding to macroeconomic concerns for asset managers and markets. Larry Fink Warns Data Center Slowdown Could Push US Into Recession
• Negative Sentiment: The reported transfer of crypto assets to Coinbase Prime may be viewed as a possible liquidation signal, even though there is no confirmation that BlackRock or its ETF investors are selling. BlackRock Moved $262 Million in Bitcoin to Coinbase

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BLK shares. UBS Group upped their price objective on shares of BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Morgan Stanley raised their target price on BlackRock from $1,468.00 to $1,531.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Truist Financial set a $1,310.00 target price on BlackRock in a report on Thursday, October 15th. BMO Capital Markets boosted their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Bank of America decreased their price target on BlackRock from $1,320.00 to $1,287.00 in a research note on Monday, October 5th. One equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,337.19.

BlackRock Company 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.