BlackRock $BLK Stock: International Assets Investment Management LLC Raises Stake

International Assets Investment Management LLC raised its position in BlackRock (NYSE:BLK) by 9,272.1% during the third quarter, HoldingsChannel.com reports. The firm owned 100,000 shares of the asset manager’s stock after purchasing an additional 98,933 shares during the period. International Assets Investment Management LLC’s holdings in BlackRock were worth $1,096,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Stronghold Wealth Management L.L.C. boosted its position in shares of BlackRock by 2.9% during the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock valued at $345,000 after buying an additional 10 shares during the period. Financial Management Professionals Inc. grew its stake in shares of BlackRock by 1.8% during the second 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 during the last quarter. JNBA Financial Advisors raised its holdings in shares of BlackRock by 1.4% in the second quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock worth $679,000 after buying an additional 10 shares during the period. McGlone Suttner Wealth Management Inc. raised its holdings in shares of BlackRock by 0.8% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager’s stock worth $1,275,000 after buying an additional 10 shares during the period. Finally, Revolve Wealth Partners LLC lifted its stake in shares of BlackRock by 2.9% during 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. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Evercore reaffirmed an “outperform” rating and issued a $1,275.00 price objective (down from $1,300.00) on shares of BlackRock in a research report on Friday, October 9th. Weiss Ratings upgraded BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. UBS Group lifted their target price on BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Finally, The Goldman Sachs Group lowered their target price on shares of BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. One investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,342.25.

BlackRock Stock Performance

BlackRock stock opened at $1,225.33 on Thursday. The company has a 50 day moving average price of $1,104.75 and a 200-day moving average price of $1,065.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,231.14. The company has a market capitalization of $189.77 billion, a PE ratio of 27.86, a P/E/G ratio of 1.20 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its quarterly earnings data 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 company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. BlackRock’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period last year, the business posted $8.43 EPS. As a group, equities analysts forecast that BlackRock will post 57.82 earnings per share for the current year.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reported quarterly earnings of $15.93 per share, above the $14.32 analyst consensus, and revenue of $7.75 billion versus $7.42 billion expected. Revenue grew 19.1% year over year, providing a fundamental counterweight to concerns about Bitcoin-fund outflows.
• Neutral Sentiment: The launch of an actively managed iShares robotics and related technologies ETF expands BlackRock’s product lineup in a growth-oriented area. The accompanying analysis cautions, however, that BLK shares could be overvalued, tempering the potential positive signal. Read the article
• Neutral Sentiment: Bank Julius Baer increased its BlackRock stake by 4.1% in the third quarter. The institutional purchase may indicate confidence, but it was disclosed in a routine filing and is not necessarily a near-term catalyst. Read the article
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) saw $405.3 million in net outflows on Nov. 2, its largest daily withdrawal since June. Total outflows from U.S. spot Bitcoin ETFs were $398.6 million, highlighting redemption pressure that could weaken demand for the product and related fee revenue. Read the article

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.