Whalen Wealth Management Inc. Makes New $564,000 Investment in BlackRock $BLK

Whalen Wealth Management Inc. purchased a new stake in shares of BlackRock (NYSE:BLK) during the 3rd quarter, Holdings Channel reports. The fund purchased 533 shares of the asset manager’s stock, valued at approximately $564,000.

Other institutional investors have also recently bought and sold shares of the company. Breakwater Capital Group grew its position in shares of BlackRock by 3.8% in the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock worth $261,000 after buying an additional 10 shares during the period. Stronghold Wealth Management L.L.C. boosted its stake in BlackRock by 2.9% during the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock worth $345,000 after acquiring an additional 10 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in BlackRock by 1.8% in the second quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager’s stock worth $542,000 after purchasing an additional 10 shares during the period. JNBA Financial Advisors increased its stake in shares of BlackRock by 1.4% during the second quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock valued at $679,000 after purchasing an additional 10 shares in the last quarter. Finally, Hilton Head Capital Partners LLC lifted its holdings in shares of BlackRock by 1.3% during the first quarter. Hilton Head Capital Partners LLC now owns 849 shares of the asset manager’s stock valued at $816,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.3%

BLK traded down $3.36 during trading on Thursday, hitting $1,066.27. 177,615 shares of the company’s stock traded hands, compared to its average volume of 739,552. The stock has a market capitalization of $165.13 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.22 and a beta of 1.41. The company’s 50 day simple moving average is $1,110.65 and its two-hundred day simple moving average is $1,057.36. BlackRock has a 12-month low of $917.39 and a 12-month 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 quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the business earned $12.05 earnings per share. The company’s revenue was up 30.6% on a year-over-year basis. Analysts predict that BlackRock will post 55.73 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were paid a dividend of $5.73 per share. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.1%. BlackRock’s dividend payout ratio is currently 54.78%.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s six-month gain is supported by record assets under management, strategic acquisitions, and continued demand for its investment products. The company’s expanding exposure to digital infrastructure, tokenized money-market funds, and cryptocurrency could provide additional growth avenues. BLK Shares Rally 6.8% in Six Months: Is There Further Upside Left?
• Positive Sentiment: BlackRock is reportedly in exclusive discussions to acquire Stack Infrastructure’s Asia-Pacific data centers in a potential $20 billion to $25 billion transaction, increasing its exposure to AI and cloud-computing infrastructure. BlackRock in Exclusive Talks on $20 Billion Data Center Deal
• Positive Sentiment: BlackRock’s funds continue to gain attention for strong performance, including its income and semiconductor offerings, which may support asset gathering and fee revenue. BlackRock’s Income Fund Performance
• Neutral Sentiment: BlackRock’s investment chief Rick Rieder remains positioned for a hawkish Federal Reserve, saying short-term yields are attractive. Higher rates can benefit money-market and fixed-income products but may pressure broader asset valuations. BlackRock’s Rieder on Yield Curve and Federal Reserve Rate Hikes
• Neutral Sentiment: BlackRock is expected to report earnings next week. Analysts anticipate year-over-year earnings growth, but the latest preview suggests the company may lack the combination of positive estimate revisions and other signals typically associated with an earnings beat. BlackRock Reports Next Week
• Negative Sentiment: U.S. spot Bitcoin ETFs recorded nearly $485 million in net outflows, with BlackRock’s iShares Bitcoin Trust responsible for $207.7 million of withdrawals. Continued crypto outflows could slow asset growth and fee income from the business. US Bitcoin ETFs See $485 Million Outflow
• Negative Sentiment: Analysts caution that BlackRock’s premium valuation may limit further upside after its recent advance. Shares are also below their 50-day moving average, reinforcing near-term investor caution. BlackRock Valuation Outlook
• Negative Sentiment: The Rosen Law Firm says it is investigating potential securities claims involving BlackRock mutual funds, creating a headline and potential legal risk, although no wrongdoing has been established. BlackRock Investor Legal Investigation

Analyst Ratings Changes

A number of analysts have recently commented on BLK shares. The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. raised their price target on BlackRock from $1,364.00 to $1,435.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, UBS Group lowered their price target on BlackRock from $1,320.00 to $1,277.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,303.35.

BlackRock 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.