1,476 Shares of BlackRock $BLK Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. bought a new position in BlackRock (NYSE:BLK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,476 shares of the asset manager’s stock, valued at approximately $1,684,000.

Other large investors also recently made changes to their positions in the company. Santa Clara Valley Transportation Authority bought a new position in shares of BlackRock in the second quarter worth $129,138,253,000. BlackRock Inc. acquired a new position in shares of BlackRock during the second quarter valued at $9,747,857,000. Temasek Holdings Private Ltd raised its stake in shares of BlackRock by 4.7% during the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after purchasing an additional 237,667 shares in the last quarter. Bank of America Corp DE raised its stake in shares of BlackRock by 0.7% during the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock valued at $5,032,603,000 after purchasing an additional 35,069 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in BlackRock by 23.3% in the second quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock worth $4,322,283,000 after purchasing an additional 850,406 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 3.2%

BLK opened at $1,216.17 on Tuesday. BlackRock has a one year low of $917.39 and a one year high of $1,242.12. 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 stock’s fifty day moving average is $1,105.98 and its 200-day moving average is $1,065.92. The company has a market capitalization of $188.35 billion, a PE ratio of 27.65, a P/E/G ratio of 1.27 and a beta of 1.37.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $1,435.00 to $1,449.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. TD Cowen raised shares of BlackRock from a “hold” rating to a “buy” rating and upped their price target for the stock from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. Morgan Stanley upped their price target on shares of BlackRock from $1,468.00 to $1,531.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Finally, Barclays decreased their price objective on shares of BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,342.25.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is seeing interest in in-kind digital-currency transactions, which could create business opportunities as investors seek ways to manage crypto-security concerns. The report does not quantify any resulting revenue or commitments. Article: BlackRock Sees Billions in Crypto ETF Conversions. Security Fears Are Driving the Trade.
• Neutral Sentiment: BlackRock Canada expects a special cash distribution in December for its XRB real-return-bond ETF, estimated at about 14% of the fund’s portfolio. It reflects maturing bonds that cannot be reinvested in newly issued Canadian real-return bonds, so it is primarily relevant to XRB unitholders rather than a direct corporate payout. Article: BlackRock Canada Announces a Special Distribution for the iShares Canadian Real Return Bond Index ETF
• Neutral Sentiment: BlackRock-backed Securitize agreed to acquire River One to expand into asset-backed lending. This may broaden the tokenization platform’s capabilities, but the report does not indicate a material near-term effect on BlackRock’s results. Article: Securitize agrees to buy River One to expand into asset-backed lending
• Negative Sentiment: Crypto-fund outflows are the clearest downside signal: BlackRock’s iShares Bitcoin Trust (IBIT) lost $213 million Monday, extending its withdrawal streak to seven sessions and bringing outflows since October 30 to $1.66 billion. Its Ethereum fund also saw $119 million in withdrawals. Sustained redemptions could pressure crypto-fund assets and related fee revenue. Article: BlackRock Bitcoin ETF outflows hit $1.66B over seven trading sessions

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.

The company also provides Aladdin, a technology platform used by investors and financial institutions for portfolio management, operations and risk analysis.