BlackRock $BLK Shares Sold by SVB Wealth LLC

SVB Wealth LLC decreased its holdings in shares of BlackRock (NYSE:BLK) by 20.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,549 shares of the asset manager’s stock after selling 668 shares during the quarter. SVB Wealth LLC’s holdings in BlackRock were worth $2,698,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BLK. Legacy Trust lifted its position in BlackRock by 5.6% during the third quarter. Legacy Trust now owns 644 shares of the asset manager’s stock worth $739,000 after buying an additional 34 shares in the last quarter. Eurizon Capital SGR S.p.A. boosted its stake in BlackRock by 3.0% during the third quarter. Eurizon Capital SGR S.p.A. now owns 64,529 shares of the asset manager’s stock worth $68,340,000 after buying an additional 1,890 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators grew its holdings in BlackRock by 9.4% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 28,785 shares of the asset manager’s stock valued at $30,463,000 after buying an additional 2,464 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in BlackRock in the 3rd quarter valued at $246,000. Finally, King Luther Capital Management Corp increased its stake in shares of BlackRock by 36.1% in the 3rd quarter. King Luther Capital Management Corp now owns 800 shares of the asset manager’s stock worth $847,000 after acquiring an additional 212 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.8%

Shares of NYSE:BLK opened at $1,216.48 on Friday. The business has a 50-day moving average price of $1,111.47 and a 200 day moving average price of $1,067.29. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $188.40 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.27 and a beta of 1.37. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,242.12.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the firm earned $8.43 EPS. BlackRock’s revenue was up 19.1% on a year-over-year basis. Sell-side analysts expect that BlackRock will post 57.82 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on BLK shares. Keefe, Bruyette & Woods lifted their price target on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. TD Cowen raised shares of BlackRock from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,212.00 to $1,405.00 in a report on Tuesday, October 20th. Barclays cut their price objective on shares of BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. Evercore reaffirmed an “outperform” rating and set a $1,275.00 target price (down from $1,300.00) on shares of BlackRock in a research note on Friday, October 9th. Finally, Deutsche Bank boosted their target price on shares of BlackRock from $1,315.00 to $1,355.00 and gave the company a “buy” rating in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,342.25.

More BlackRock News

Here’s some of the latest news about BLK:

• Positive Sentiment: BlackRock’s expansion in private markets, strategic acquisitions and record $15.49 trillion in assets under management are cited as potential long-term growth drivers, though rising expenses could temper the benefit. Article: BlackRock’s Private Markets Expansion: A Key Long-Term Growth Driver?
• 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
• Neutral Sentiment: BlackRock’s participation in a London forum on Ethereum reflects institutional interest in tokenization and blockchain settlement, but the report describes discussion rather than a specific business announcement. Article: Ethereum Draws Wall Street Attention As BlackRock And JPMorgan Join London Forum

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 7,000 shares of BlackRock stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total transaction of $8,536,850.00. Following the completion of the sale, the director directly owned 6,065 shares in the company, valued at $7,396,570.75. This trade represents a 53.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.92% of the stock is currently owned by company insiders.

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.