Key Points
- BlackRock director Rachel Lord sold 7,000 shares for about $8.54 million, reducing her reported holdings by 53.58% to 6,065 shares.
- BlackRock reported quarterly EPS of $15.93, beating the $14.32 consensus estimate, while revenue of $7.75 billion rose 19.1% year over year.
- Analyst sentiment was broadly positive, with a “Moderate Buy” consensus and an average price target of $1,342.25; meanwhile, BlackRock’s IBIT Bitcoin ETF had experienced more than $2 billion in outflows over nine sessions.
BlackRock (NYSE:BLK - Get Free Report) Director Rachel Lord sold 7,000 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 6,065 shares of the company's stock, 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 filing with the SEC, which can be accessed through this link.
BlackRock Stock Down 0.8%
Shares of NYSE BLK opened at $1,216.48 on Friday. The firm's 50-day simple moving average is $1,111.47 and its 200 day simple moving average is $1,067.29. The company has a market cap of $188.40 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.28. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,242.12.
BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, beating the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 15.60%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.42 billion. During the same quarter last year, the company posted $8.43 EPS. The company's quarterly revenue was up 19.1% compared to the same quarter last year. On average, research analysts expect that BlackRock will post 57.82 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Summit Wealth Group LLC Co. grew its position in shares of BlackRock by 2.8% during the 3rd quarter. Summit Wealth Group LLC Co. now owns 331 shares of the asset manager's stock worth $350,000 after buying an additional 9 shares during the period. Financial Management Professionals Inc. raised its stake in shares of BlackRock by 1.8% during the second quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager's stock worth $542,000 after buying an additional 10 shares during the last quarter. JNBA Financial Advisors lifted its holdings in BlackRock by 1.4% in the second quarter. JNBA Financial Advisors now owns 706 shares of the asset manager's stock valued at $679,000 after buying an additional 10 shares during the period. McGlone Suttner Wealth Management Inc. lifted its holdings in BlackRock by 0.8% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager's stock valued at $1,275,000 after buying an additional 10 shares during the period. Finally, Revolve Wealth Partners LLC lifted its holdings in BlackRock by 2.9% in the third quarter. Revolve Wealth Partners LLC now owns 360 shares of the asset manager's stock valued at $381,000 after buying an additional 10 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on BLK. Morgan Stanley raised their price target on shares of BlackRock from $1,468.00 to $1,531.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. JPMorgan Chase & Co. boosted their price objective 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. Bank of America reduced their price objective on BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the company an "outperform" rating in a research report on Thursday, October 15th. Finally, Weiss Ratings raised BlackRock from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,342.25.
Get Our Latest Analysis on BlackRock
Key Stories Impacting BlackRock
These are some of the BLK stories that stood out recently:
- Neutral Sentiment: BlackRock executives discussed liquid alternative strategies, product launches and AI-managed portfolios, highlighting areas of product development without a specific financial impact reported. Article: ETF Prime: BlackRock on Liquid Alts & the Rise of AI-Managed Portfolios
- 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
- Negative Sentiment: Director Rachel Lord sold 7,000 shares, reducing her reported ownership by 53.58%. Insider sales can raise concern, although the filing does not establish the reason for the transaction. SEC filing: BlackRock Form 4
About BlackRock
(
Get Free Report)
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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