BlackRock $BLK Stock Sold by North Point Portfolio Managers Corp OH

by · The Cerbat Gem

North Point Portfolio Managers Corp OH reduced its position in BlackRock (NYSE:BLK – Free Report) by 3.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,960 shares of the asset manager’s stock after selling 636 shares during the quarter. BlackRock comprises about 3.1% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 11th largest position. North Point Portfolio Managers Corp OH’s holdings in BlackRock were worth $16,890,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. American National Bank of Texas acquired a new stake in BlackRock in the third quarter valued at about $223,000. Crumly & Associates Inc. increased its position in BlackRock by 2.4% during the 3rd quarter. Crumly & Associates Inc. now owns 932 shares of the asset manager’s stock worth $986,000 after purchasing an additional 22 shares during the period. Colton Groome Financial Advisors LLC lifted its holdings in shares of BlackRock by 1.6% in the 3rd quarter. Colton Groome Financial Advisors LLC now owns 1,513 shares of the asset manager’s stock valued at $1,601,000 after buying an additional 24 shares during the period. Park National Corp OH lifted its holdings in shares of BlackRock by 4.5% in the 3rd quarter. Park National Corp OH now owns 28,488 shares of the asset manager’s stock valued at $28,887,000 after buying an additional 1,219 shares during the period. Finally, Eastern Bank grew its holdings in BlackRock by 2.1% during the third quarter. Eastern Bank now owns 45,566 shares of the asset manager’s stock worth $48,222,000 after acquiring an additional 936 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent analyst reports. UBS Group set a $1,277.00 target price on BlackRock in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $1,364.00 to $1,435.00 and gave the stock an “overweight” rating in a research report on Tuesday. BMO Capital Markets increased their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Weiss Ratings lowered BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,258.00 price target on shares of BlackRock in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,304.24.

Read Our Latest Report on BLK

BlackRock Price Performance

Shares of NYSE BLK traded down $10.24 on Wednesday, hitting $1,069.18. The company’s stock had a trading volume of 163,545 shares, compared to its average volume of 741,359. The stock has a 50 day moving average of $1,110.93 and a 200-day moving average of $1,056.68. The company has a market capitalization of $165.58 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59.

BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.69 by $1.22. The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.05 EPS. As a group, research analysts predict that BlackRock will post 55.86 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were paid a dividend of $5.73 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.1%. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

  • Positive Sentiment: JPMorgan raised its BLK price target to $1,435 and maintained an “overweight” rating, implying substantial upside from recent trading levels. The upgrade supports the view that BlackRock’s diversified asset-management platform and earnings growth remain attractive. BlackRock Stock Price Target Raised at JPMorgan Chase & Co.
  • Positive Sentiment: BlackRock and partners are reportedly in exclusive talks to acquire Stack Infrastructure’s Asia-Pacific data centers in a potential $20 billion to $25 billion transaction. Exposure to AI and cloud infrastructure could expand BlackRock’s private-markets and infrastructure-fee businesses, although the deal remains preliminary. BlackRock in Exclusive Talks on Data Center Deal
  • Positive Sentiment: BlackRock continues developing digital-asset products and investment strategies, including tokenized money-market funds, Bitcoin and Ethereum ETFs, and potential stablecoin-based payments for AI agents. These initiatives could create new sources of assets under management and fees. BlackRock Pitches Tokenized Money Market Funds
  • Neutral Sentiment: BlackRock is projected to report quarterly earnings next Wednesday. Analysts expect earnings growth, but a Zacks analysis says the company lacks the typical indicators for a likely earnings beat, increasing the risk of a muted or volatile reaction. BlackRock Reports Next Week
  • Neutral Sentiment: BlackRock’s reported cryptocurrency holdings increased by nearly $300 million over four days, signaling continued institutional demand for digital assets, though the portfolio’s value remains sensitive to crypto-market volatility. BlackRock Crypto Portfolio Increase
  • Negative Sentiment: Rising borrowing costs and rates above 5% are creating a more difficult environment for companies, households and governments. Higher rates can pressure market valuations, slow economic activity and make it harder for asset managers to generate strong investment performance and flows. Economy Under Pressure as Rates Exceed 5%

BlackRock Profile

(Free Report)

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.

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