First Citizens Bank & Trust Co. Purchases 11,781 Shares of BlackRock $BLK

First Citizens Bank & Trust Co. grew its holdings in shares of BlackRock (NYSE:BLK) by 392.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,780 shares of the asset manager’s stock after buying an additional 11,781 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in BlackRock were worth $15,642,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. RMG Wealth Management LLC purchased a new position in shares of BlackRock in the 1st quarter valued at $25,000. Addison Advisors LLC purchased a new stake in BlackRock during the 2nd quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in BlackRock during the 2nd quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in BlackRock during the 2nd quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in BlackRock in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $1,068.07 on Wednesday. The firm has a 50-day moving average of $1,107.58 and a two-hundred day moving average of $1,060.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market cap of $165.41 billion, a P/E ratio of 25.53, a PEG ratio of 1.22 and a beta of 1.41. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the company earned $12.05 earnings per share. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. On average, research analysts expect that BlackRock will post 55.69 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were issued a $5.73 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. BlackRock’s dividend payout ratio is currently 54.78%.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock said assets under management grew 15% to nearly $15.5 trillion, expanding the company’s fee-generating base and highlighting continued demand for its ETFs, index products and broader investment offerings. BlackRock assets under management growth
• Positive Sentiment: Third-quarter profit increased as resilient financial markets boosted management fees, supporting the core earnings outlook for BLK. The company released its full results and supplemental materials before hosting an investor conference call. BlackRock profit and fee growth
• Positive Sentiment: BlackRock’s HPS Investment Partners agreed to form a majority-owned joint venture with Humana to manage nearly 150 CenterWell senior-care clinics. The deal broadens BlackRock’s private-market and infrastructure exposure and could create additional long-term fee opportunities. Humana and BlackRock clinic joint venture
• Neutral Sentiment: BlackRock expanded its product lineup with a new actively managed artificial-intelligence and technology ETF through the RBC iShares alliance, while funds managed by BlackRock participated in a $200 million financing for 3D-homebuilder Icon. These initiatives offer growth potential but are unlikely to materially affect near-term earnings. New iShares AI and technology ETF
• Negative Sentiment: BlackRock’s investment research unit became more constructive on short-term Treasuries and closed its longstanding U.S. stock overweight, signaling caution about equity valuations and potentially limiting near-term appetite for risk assets. BlackRock shifts toward short-term Treasuries
• Negative Sentiment: The iShares Bitcoin Trust recorded approximately $65.4 million in net outflows in the latest session, making it the only U.S. spot-Bitcoin ETF to report a withdrawal that day and raising concerns about crypto-related flows. IBIT Bitcoin ETF outflows

Wall Street Analysts Forecast Growth

Several research analysts have commented on BLK shares. Wells Fargo & Company cut their price objective on BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. BMO Capital Markets boosted their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Evercore reaffirmed an “outperform” rating and issued a $1,275.00 target price on shares of BlackRock in a research report on Friday. Barclays lowered their target price on BlackRock from $1,450.00 to $1,420.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods upgraded BlackRock from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 7th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,309.88.

About BlackRock

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.