BlackRock $BLK Stock Position Reduced by Keybank National Association OH

Keybank National Association OH reduced its holdings in BlackRock (NYSE:BLK) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,551 shares of the asset manager’s stock after selling 770 shares during the period. Keybank National Association OH’s holdings in BlackRock were worth $37,623,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Narwhal Capital Management raised its stake in shares of BlackRock by 2.1% during the 3rd quarter. Narwhal Capital Management now owns 19,179 shares of the asset manager’s stock valued at $20,296,000 after buying an additional 391 shares during the last quarter. Csenge Advisory Group boosted its stake in shares of BlackRock by 10.5% in the third quarter. Csenge Advisory Group now owns 473 shares of the asset manager’s stock worth $501,000 after buying an additional 45 shares during the last quarter. 71 West Capital Partners boosted its stake in shares of BlackRock by 1.2% in the third quarter. 71 West Capital Partners now owns 23,437 shares of the asset manager’s stock worth $24,803,000 after buying an additional 289 shares during the last quarter. AlphaCore Capital LLC grew its holdings in BlackRock by 11.6% during the third quarter. AlphaCore Capital LLC now owns 7,636 shares of the asset manager’s stock worth $8,081,000 after acquiring an additional 792 shares during the period. Finally, Clear Wave Wealth Management LLC acquired a new stake in BlackRock during the third quarter worth about $210,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

NYSE:BLK opened at $1,226.72 on Thursday. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,242.12. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $189.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. The stock’s 50-day moving average price is $1,109.30 and its 200-day moving average price is $1,066.82.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping analysts’ consensus estimates of $14.32 by $1.61. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.42 billion. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. BlackRock’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.43 EPS. As a group, equities analysts expect that BlackRock will post 57.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial set a $1,310.00 price target on BlackRock in a research report on Thursday, October 15th. Weiss Ratings raised BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Jefferies Financial Group restated a “buy” rating and issued a $1,341.00 price objective on shares of BlackRock in a research report on Wednesday, October 28th. UBS Group raised their price objective on shares of BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Finally, Deutsche Bank lifted their target price on shares of BlackRock from $1,315.00 to $1,355.00 and gave the company a “buy” rating in a report 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,342.25.

Recent BlackRock Headlines

Here are a few of the latest headlines about BLK:

• Positive Sentiment: Barclays increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 48% in the third quarter, to about $187 million. The larger position suggests continued institutional participation in the fund, despite recent market-wide outflows. Article: Barclays boosts BlackRock Bitcoin ETF stake
• Neutral Sentiment: The House passed a bill that could broaden investment options in 403(b) retirement plans, potentially creating opportunities for asset managers such as BlackRock. The impact depends on further legislative steps and how plan providers implement the changes. Article: House passes retirement fairness bill
• Negative Sentiment: IBIT recorded seven consecutive sessions of net withdrawals, totaling about $1.66 billion, including roughly $213 million on Nov. 9. BlackRock’s Ether ETF also saw substantial withdrawals. Persistent redemptions could weigh on crypto-related assets under management, fee revenue and investor sentiment, although these funds are only part of BlackRock’s broader business. Article: BlackRock Bitcoin ETF outflows Article: Ether ETFs see outflows

BlackRock Profile

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.