BlackRock $BLK Stock: PBU The Pension Fund of Early Childhood & Youth Educators Grows Position

PBU The Pension Fund of Early Childhood & Youth Educators grew its position in shares of BlackRock (NYSE:BLK) by 9.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 28,785 shares of the asset manager’s stock after acquiring an additional 2,464 shares during the quarter. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in BlackRock were worth $30,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RMG Wealth Management LLC bought a new position in shares of BlackRock during the 1st quarter valued at about $25,000. Addison Advisors LLC bought a new stake in BlackRock in the 2nd quarter worth approximately $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in BlackRock in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in BlackRock in the 2nd quarter worth approximately $30,000. Finally, Putney Financial Group LLC purchased a new stake in BlackRock in the third quarter worth approximately $32,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on BLK shares. The Goldman Sachs Group decreased their price target on shares of BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. TD Cowen raised shares of BlackRock from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. UBS Group lifted their target price on shares of BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,342.25.

BlackRock Trading Down 0.8%

Shares of BLK stock opened at $1,216.48 on Friday. The business has a 50-day moving average of $1,111.47 and a 200 day moving average of $1,067.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,242.12. The stock has a market capitalization of $188.40 billion, a PE ratio of 27.66, a P/E/G ratio of 1.27 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping analysts’ consensus estimates of $14.32 by $1.61. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the firm earned $8.43 EPS. The business’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock will post 57.82 earnings per share for the current year.

Key Headlines Impacting BlackRock

Investors following BLK have been watching these headlines:

• Positive Sentiment: BlackRock’s expansion in private markets, strategic acquisitions and record $15.49 trillion in assets under management are cited as potential long-term growth drivers, though rising expenses could temper the benefit. Article: BlackRock’s Private Markets Expansion: A Key Long-Term Growth Driver?
• Neutral Sentiment: BlackRock’s participation in a London forum on Ethereum reflects institutional interest in tokenization and blockchain settlement, but the report describes discussion rather than a specific business announcement. Article: Ethereum Draws Wall Street Attention As BlackRock And JPMorgan Join London Forum
• Negative Sentiment: Investors withdrew $269.7 million from BlackRock’s iShares Bitcoin Trust (IBIT) on Wednesday, contributing to more than $2 billion in outflows over nine sessions. Continued redemptions could weigh on fund-related revenue and sentiment toward the firm’s crypto business. Article: BlackRock Bitcoin ETF outflows hit $2B over nine sessions

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total value of $8,536,850.00. Following the transaction, the director owned 6,065 shares in the company, valued at approximately $7,396,570.75. This trade represents a 53.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.

About BlackRock

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.