Pictet Asset Management Holding SA trimmed its position in shares of BlackRock (NYSE:BLK – Free Report) by 4.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 95,259 shares of the asset manager’s stock after selling 4,924 shares during the quarter. Pictet Asset Management Holding SA’s holdings in BlackRock were worth $100,813,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. RMG Wealth Management LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $25,000. Addison Advisors LLC acquired a new position in shares of BlackRock in the second quarter valued at $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of BlackRock in the second quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in BlackRock in the second quarter worth $30,000. Finally, Putney Financial Group LLC bought a new position in BlackRock in the third quarter worth $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
Key BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock executives described potential shifts in equity markets and opportunities in AI-related debt financing. The company also said political changes following the U.S. midterms will not alter its crypto strategy, signaling continuity in its digital-asset plans. Rieder on equity rebalancing BlackRock’s crypto strategy
- Positive Sentiment: Preqin, BlackRock’s private-markets data business, is partnering with an AI-powered capital-introduction platform. The collaboration may extend the reach of its institutional data offering, though the financial impact is not specified. Preqin and iConnections collaboration
- Neutral Sentiment: Larry Fink argued that workers have fallen behind investors, prompting discussion of pay, investment returns and market ownership. This is a broader economic commentary rather than a direct update on BlackRock’s earnings or outlook. Larry Fink on workers and investors
- Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) continued to see withdrawals even as some reports described a rebound in overall crypto ETF flows. Further outflows could pressure fund assets and related fee revenue, although the reports do not quantify a material effect on BlackRock’s overall results. BlackRock ETF withdrawals
BlackRock Price Performance
NYSE:BLK opened at $1,178.32 on Monday. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.28. The firm has a market cap of $182.49 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,242.12. The company’s 50-day moving average price is $1,104.90 and its two-hundred day moving average price is $1,065.48.
BlackRock (NYSE:BLK – Get Free Report) last announced its earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping the consensus estimate of $14.32 by $1.61. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. BlackRock’s revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $8.43 EPS. On average, equities analysts anticipate that BlackRock will post 57.82 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Monday, October 19th. Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Evercore reiterated an “outperform” rating and set a $1,275.00 target price (down from $1,300.00) on shares of BlackRock in a research report on Friday, October 9th. BNP Paribas Exane upped their target price on shares of BlackRock from $1,370.00 to $1,430.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $1,315.00 to $1,355.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,342.25.
Check Out Our Latest Report on BlackRock
BlackRock Profile
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.
The company also provides Aladdin, a technology platform used by investors and financial institutions for portfolio management, operations and risk analysis.
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