RFG Bristol Wealth Advisors LLC Grows Stake in BlackRock $BLK

RFG Bristol Wealth Advisors LLC boosted its stake in shares of BlackRock (NYSE:BLK) by 865.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,303 shares of the asset manager’s stock after buying an additional 5,650 shares during the quarter. BlackRock accounts for 1.6% of RFG Bristol Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest position. RFG Bristol Wealth Advisors LLC’s holdings in BlackRock were worth $6,670,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BLK. RMG Wealth Management LLC bought a new stake in shares of BlackRock during the 1st quarter worth approximately $25,000. Addison Advisors LLC bought a new position in shares of BlackRock in the second quarter valued at $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in BlackRock during the second quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in BlackRock during the second quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in BlackRock during the fourth quarter worth $36,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLK has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of BlackRock from $1,450.00 to $1,420.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company reduced their price target on BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating for the company in a report on Thursday. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,304.24.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded BlackRock from “hold” to “moderate buy,” providing a fresh positive analyst signal. The upgrade likely reflects confidence in BlackRock’s earnings outlook and long-term asset-management growth. BlackRock analyst upgrade reference
• Positive Sentiment: Expectations for the upcoming third-quarter report are constructive. Analysts anticipate higher revenue, earnings and assets under management, while BlackRock’s strong earnings-surprise history and favorable Earnings ESP support the possibility of another consensus beat. BlackRock earnings beat outlook
• Positive Sentiment: Record assets under management, strategic acquisitions and demand for BlackRock’s products continue to support the growth narrative. The company’s recent earnings also showed substantial year-over-year revenue growth and a sizable EPS beat, reinforcing fundamental momentum. BlackRock growth and valuation analysis
• Neutral Sentiment: BlackRock disclosed a substantial voting stake in Qiagen (QGEN). The filing confirms an ownership position but does not, by itself, indicate a material change to BlackRock’s operating outlook. BlackRock voting stake in Qiagen
• Negative Sentiment: Valuation is a key risk after BlackRock’s multiyear share-price advance. Commentary describes the stock as fairly valued or trading at a premium, meaning additional gains may require continued improvement in returns, AUM and earnings. BlackRock valuation analysis
• Negative Sentiment: Expected increases in operating expenses and potentially lower performance fees could offset some of the benefit from higher revenue, earnings and AUM. Separately, substantial outflows from U.S. spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, may weigh on sentiment toward its digital-assets franchise. BlackRock third-quarter earnings risks

BlackRock Stock Performance

Shares of NYSE:BLK traded up $15.92 on Friday, hitting $1,081.27. The company had a trading volume of 376,865 shares, compared to its average volume of 739,104. The stock has a market cap of $167.46 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.21 and a beta of 1.41. The stock has a 50 day moving average price of $1,109.77 and a 200 day moving average price of $1,058.29. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the company posted $12.05 EPS. Analysts expect that BlackRock will post 55.73 EPS for the current year.

BlackRock Dividend Announcement

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