BlackRock $BLK Shares Newly Bought by Sound Income Strategies LLC

Sound Income Strategies LLC acquired a new stake in BlackRock (NYSE:BLK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 589 shares of the asset manager’s stock, valued at approximately $628,000.

Other hedge funds have also recently modified their holdings of the company. Breakwater Capital Group lifted its holdings in BlackRock by 3.8% in the first quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock valued at $261,000 after acquiring an additional 10 shares during the period. Stronghold Wealth Management L.L.C. increased its holdings in shares of BlackRock by 2.9% during the 1st quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 10 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in shares of 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 purchasing an additional 10 shares during the period. JNBA Financial Advisors lifted 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 valued at $679,000 after purchasing an additional 10 shares during the period. Finally, Hilton Head Capital Partners LLC boosted its holdings in BlackRock by 1.3% during the first quarter. Hilton Head Capital Partners LLC now owns 849 shares of the asset manager’s stock worth $816,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 1.5%

BLK stock opened at $1,081.27 on Friday. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $1,109.77 and a 200-day simple moving average of $1,058.29. The stock has a market capitalization of $167.46 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.20 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the company posted $12.05 EPS. BlackRock’s quarterly revenue was up 30.6% compared to the same quarter last year. Equities analysts forecast that BlackRock will post 55.71 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were given a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is 54.78%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLK. BNP Paribas Exane lifted their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Barclays cut their price target on BlackRock from $1,450.00 to $1,420.00 and set an “overweight” rating for the company in a research note on Wednesday. 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. Keefe, Bruyette & Woods upgraded BlackRock from a “hold” rating to a “moderate buy” rating in a research report on Wednesday. Finally, Morgan Stanley dropped their price objective on BlackRock from $1,488.00 to $1,479.00 and set an “overweight” rating on the stock in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,304.24.

Key Headlines Impacting BlackRock

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 Company Profile

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.