450 Shares in BlackRock $BLK Purchased by Partners Wealth Management LLC

Partners Wealth Management LLC purchased a new stake in BlackRock (NYSE:BLK) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 450 shares of the asset manager’s stock, valued at approximately $477,000.

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

Key Headlines 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%

BlackRock Trading Down 2.4%

Shares of BlackRock stock opened at $1,147.61 on Friday. The stock has a 50 day moving average of $1,103.88 and a 200 day moving average of $1,064.04. 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 PEG ratio of 1.19 and a beta of 1.41. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,187.17.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America reduced their price target on BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Finally, TD Cowen upgraded shares of BlackRock from a “hold” rating to a “buy” rating and boosted their target price for the company from $1,212.00 to $1,405.00 in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,342.25.

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.