North Point Portfolio Managers Corp OH Sells 636 Shares of BlackRock $BLK

North Point Portfolio Managers Corp OH lessened its holdings in shares of BlackRock (NYSE:BLK) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 15,960 shares of the asset manager’s stock after selling 636 shares during the quarter. BlackRock accounts for approximately 3.1% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 11th largest holding. North Point Portfolio Managers Corp OH’s holdings in BlackRock were worth $16,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. purchased a new position in BlackRock during the second quarter worth about $9,747,857,000. Corient Private Wealth LLC grew its holdings in BlackRock by 5,190.3% in the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after buying an additional 5,386,640 shares during the period. Bank of America Corp DE acquired a new position in shares of BlackRock during the 2nd quarter valued at about $4,409,095,000. Santa Clara Valley Transportation Authority purchased a new position in shares of BlackRock during the 2nd quarter worth about $129,138,253,000. Finally, Auto Owners Insurance Co lifted its holdings in shares of BlackRock by 106,934.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock worth $128,441,000 after acquiring an additional 1,283,208 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: JPMorgan raised its BLK price target to $1,435 and maintained an “overweight” rating, implying substantial upside from recent trading levels. The upgrade supports the view that BlackRock’s diversified asset-management platform and earnings growth remain attractive. BlackRock Stock Price Target Raised at JPMorgan Chase & Co.
• Positive Sentiment: BlackRock and partners are reportedly in exclusive talks to acquire Stack Infrastructure’s Asia-Pacific data centers in a potential $20 billion to $25 billion transaction. Exposure to AI and cloud infrastructure could expand BlackRock’s private-markets and infrastructure-fee businesses, although the deal remains preliminary. BlackRock in Exclusive Talks on Data Center Deal
• Positive Sentiment: BlackRock continues developing digital-asset products and investment strategies, including tokenized money-market funds, Bitcoin and Ethereum ETFs, and potential stablecoin-based payments for AI agents. These initiatives could create new sources of assets under management and fees. BlackRock Pitches Tokenized Money Market Funds
• Neutral Sentiment: BlackRock is projected to report quarterly earnings next Wednesday. Analysts expect earnings growth, but a Zacks analysis says the company lacks the typical indicators for a likely earnings beat, increasing the risk of a muted or volatile reaction. BlackRock Reports Next Week
• Neutral Sentiment: BlackRock’s reported cryptocurrency holdings increased by nearly $300 million over four days, signaling continued institutional demand for digital assets, though the portfolio’s value remains sensitive to crypto-market volatility. BlackRock Crypto Portfolio Increase
• Negative Sentiment: Rising borrowing costs and rates above 5% are creating a more difficult environment for companies, households and governments. Higher rates can pressure market valuations, slow economic activity and make it harder for asset managers to generate strong investment performance and flows. Economy Under Pressure as Rates Exceed 5%

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BLK. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. BMO Capital Markets increased their price target on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $1,364.00 to $1,435.00 and gave the company an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods downgraded BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company initiated coverage on BlackRock in a research report on Friday, October 2nd. They issued an “overweight” rating and a $1,245.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,304.24.

BlackRock Trading Down 0.9%

BLK stock traded down $10.24 during midday trading on Wednesday, reaching $1,069.18. 163,545 shares of the company’s stock traded hands, compared to its average volume of 741,359. The company has a market capitalization of $165.58 billion, a P/E ratio of 25.56, a PEG ratio of 1.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The business has a 50-day moving average price of $1,110.93 and a two-hundred day moving average price of $1,056.68.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the prior year, the business earned $12.05 earnings per share. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock will post 55.86 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were given a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s dividend payout ratio is 54.78%.

About BlackRock

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.