Capital Advisors Inc. OK Reduces Stake in BlackRock, Inc.

In a recent filing with the SEC, Capital Advisors Inc. OK reported a dramatic reduction in its investment in BlackRock, Inc. (NYSE: BLK). The firm has decreased its holdings by 98.7% during the third quarter, leaving it with just 885 shares after selling 65,873 shares. Following this divestment, Capital Advisors' stake in BlackRock is valued at approximately $840,000 based on its latest disclosure.

Institutional Investors Adjust Holdings

Other institutional investors and hedge funds are also adjusting their positions regarding BlackRock shares. For instance, Axxcess Wealth Management LLC increased its holdings by 35.8% in the first quarter, acquiring an additional 1,248 shares, which brings their total to 4,732 shares worth about $3,945,000. Cetera Investment Advisers made a significant move as well, boosting its stake by 219.5% during the same quarter to own 44,065 shares, valued at approximately $36,737,000 after adding 30,274 shares. Meanwhile, M&G Plc invested in BlackRock for the first time, purchasing shares worth $161,918,000. Furthermore, GAMMA Investing LLC grew its position by 62.8% in the second quarter, and Daiwa Securities Group Inc. raised its position by 17.2% during the first quarter. Notably, institutional and hedge funds collectively own 80.69% of BlackRock's shares.

BlackRock's Recent Performance

As of the last trading day, BlackRock shares were priced at $985.08. The company has a market capitalization of $145.92 billion and a price-to-earnings (PE) ratio of 24.31. BlackRock’s 50-day moving average stands at $940.00, and its 200-day moving average is $851.56. Over the last year, its stock has fluctuated between a low of $623.77 and a high of $1,032.00. Additional financial metrics include a debt-to-equity ratio of 0.37 and a current ratio of 5.06.

Earnings Report

On October 11, BlackRock announced its earnings, reporting $11.46 per share, which exceeded analysts' expectations of $10.42 by $1.04. The company achieved a return on equity of 15.52% and a net margin of 31.37%. It generated revenue of $5.20 billion, surpassing the anticipated $5.03 billion, marking a 14.9% increase in revenue year-over-year.

Changes in Analyst Ratings

Opinions from various brokerage firms result in cautious optimism for BlackRock's future. For example, Wells Fargo raised its target price from $1,000.00 to $1,070.00, issuing an “overweight” rating. Similarly, JPMorgan Chase raised its price target from $864.00 to $914.00, assigning it a “neutral” rating. Barclays provided an upgrade as well, increasing its price objective from $1,010.00 to $1,120.00 and giving the stock an “overweight” rating. Overall, analysts maintain a favorable view, with an average rating of “Moderate Buy” and a target price of $995.31.

Insider Transactions

In insider trading news, Director Mark Wiedman sold a substantial number of shares in August, totaling 11,061 shares for around $9.43 million. After this transaction, he retains 6,480 shares in BlackRock. Additionally, CEO Laurence Fink sold 29,450 shares similarly valued at $24.83 million. Overall, insider sales have resulted in a total divestiture of 64,511 shares worth roughly $55.57 million over the last three months.

About BlackRock, Inc.

BlackRock, Inc. operates as a publicly traded investment management firm, catering primarily to institutional, intermediary, and individual investors. Its clientele includes public pension funds, insurance companies, mutual funds, endowments, and governments.

BlackRock, investment, stake