BlackRock $BLK Stock: Prime Capital Investment Advisors LLC Decreases Holdings

Prime Capital Investment Advisors LLC cut its stake in shares of BlackRock (NYSE:BLK) by 23.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,099 shares of the asset manager’s stock after selling 944 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in BlackRock were worth $3,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RMG Wealth Management LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $25,000. Addison Advisors LLC bought a new position in BlackRock during the 2nd quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in BlackRock during the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in BlackRock in the second quarter worth $30,000. Finally, Wilkerson Advisory Group LLC increased its position in BlackRock by 100.0% in the first quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager’s stock worth $33,000 after buying an additional 17 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

BLK opened at $1,148.23 on Thursday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $1,105.51 and its 200-day moving average is $1,067.39. The stock has a market cap of $177.83 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,187.17.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same period in the prior year, the company posted $8.43 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, analysts predict that BlackRock will post 57.47 earnings per share for the current year.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Analyst upgrade and higher valuation: TD Cowen upgraded BlackRock to Buy and set a $1,405 price target, citing a potential third-quarter earnings inflection and improving growth outlook. BlackRock raised to Buy at TD Cowen
• Positive Sentiment: Assets under management reached $15.49 trillion, up 15% year over year. Robust inflows and market appreciation could support fee revenue and earnings, building on BlackRock’s previously reported quarterly revenue and EPS beat. BlackRock Q3 assets under management
• Positive Sentiment: ETF momentum remains strong. BlackRock launched the actively managed iShares Future Robotics and Related Technologies ETF (RBTX), expanding its artificial-intelligence product lineup. Its Bitcoin ETF, IBIT, also recorded approximately $665 million in one-day inflows, highlighting continued investor preference for BlackRock’s digital-asset platform. BlackRock introduces robotics ETF US Bitcoin ETF inflows
• Neutral Sentiment: BlackRock is broadening its product range with a proposed buffered Bitcoin ETF, PBIT, designed to limit losses in exchange for capped gains. The filing could attract more conservative investors, although the fund has not yet launched and fees and protection terms remain uncertain. BlackRock Bitcoin managed protection ETF
• Negative Sentiment: CEO Larry Fink warned that delays or opposition to AI data-center construction could raise computing costs, fuel inflation and weaken economic growth, potentially creating recession risk. Larry Fink data-center recession warning

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BLK shares. Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. BMO Capital Markets upped their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $1,435.00 to $1,449.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. BNP Paribas Exane increased their price objective on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Finally, Wells Fargo & Company increased their price objective on shares of BlackRock from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,337.19.

About BlackRock

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.