UNIVEST FINANCIAL Corp decreased its stake in shares of BlackRock (NYSE:BLK – Free Report) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,756 shares of the asset manager’s stock after selling 2,747 shares during the period. BlackRock accounts for about 0.8% of UNIVEST FINANCIAL Corp’s portfolio, making the stock its 24th largest holding. UNIVEST FINANCIAL Corp’s holdings in BlackRock were worth $16,675,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of BLK. Advisors Capital Management LLC acquired a new position in BlackRock in the 2nd quarter valued at $33,847,000. Varma Mutual Pension Insurance Co bought a new position in shares of BlackRock in the second quarter worth $28,185,000. Haverford Trust Co acquired a new position in BlackRock in the second quarter valued at about $264,500,000. Liberty One Investment Management LLC raised its stake in BlackRock by 30.7% in the first quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock valued at $4,675,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Basswood Capital Management L.L.C. bought a new stake in BlackRock during the second quarter worth about $23,122,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on BLK shares. Evercore restated an “outperform” rating and issued a $1,275.00 target price (down from $1,300.00) on shares of BlackRock in a research report on Friday, October 9th. Wells Fargo & Company increased their price target on shares of BlackRock from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. UBS Group lifted their price objective on shares of BlackRock from $1,277.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Truist Financial set a $1,310.00 price objective on shares of BlackRock in a research report on Thursday, October 15th. Finally, Weiss Ratings upgraded BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,342.25.
Check Out Our Latest Report on BlackRock
BlackRock Price Performance
Shares of NYSE:BLK opened at $1,226.72 on Thursday. BlackRock has a one year low of $917.39 and a one year high of $1,242.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market cap of $189.98 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.27 and a beta of 1.37. The firm has a 50 day simple moving average of $1,109.30 and a 200 day simple moving average of $1,066.82.
BlackRock (NYSE:BLK – Get Free Report) last posted its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping analysts’ consensus estimates of $14.32 by $1.61. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 15.60%. The company’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.43 earnings per share. Research analysts predict that BlackRock will post 57.82 earnings per share for the current fiscal year.
Trending Headlines about BlackRock
Investors following BLK have been watching these headlines:
- Positive Sentiment: Barclays increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 48% in the third quarter, to about $187 million. The larger position suggests continued institutional participation in the fund, despite recent market-wide outflows. Article: Barclays boosts BlackRock Bitcoin ETF stake
- Neutral Sentiment: The House passed a bill that could broaden investment options in 403(b) retirement plans, potentially creating opportunities for asset managers such as BlackRock. The impact depends on further legislative steps and how plan providers implement the changes. Article: House passes retirement fairness bill
- Negative Sentiment: IBIT recorded seven consecutive sessions of net withdrawals, totaling about $1.66 billion, including roughly $213 million on Nov. 9. BlackRock’s Ether ETF also saw substantial withdrawals. Persistent redemptions could weigh on crypto-related assets under management, fee revenue and investor sentiment, although these funds are only part of BlackRock’s broader business. Article: BlackRock Bitcoin ETF outflows Article: Ether ETFs see outflows
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.
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