Generali Asset Management SPA SGR Buys 1,088 Shares of BlackRock $BLK

Generali Asset Management SPA SGR grew its stake in shares of BlackRock (NYSE:BLK) by 5.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,519 shares of the asset manager’s stock after acquiring an additional 1,088 shares during the period. Generali Asset Management SPA SGR’s holdings in BlackRock were worth $20,657,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of BlackRock during the 2nd quarter valued at $9,747,857,000. Bank of America Corp DE acquired a new position in BlackRock in the 2nd quarter worth about $4,409,095,000. Santa Clara Valley Transportation Authority acquired a new position in BlackRock in the 2nd quarter worth about $129,138,253,000. Wellington Management Group LLP raised its position in BlackRock by 23.3% in the second quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock valued at $4,322,283,000 after purchasing an additional 850,406 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in BlackRock in the second quarter valued at about $807,039,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the topic of several research reports. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Jefferies Financial Group raised their price target on shares of BlackRock from $1,222.00 to $1,260.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. BNP Paribas Exane lifted their price target on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. The Goldman Sachs Group reduced their price objective on shares of BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. Finally, Evercore reissued an “outperform” rating and issued a $1,275.00 price objective (down from $1,300.00) on shares of BlackRock in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,337.19.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETF, IBIT, attracted approximately $110 million after a run of outflows, coinciding with Bitcoin’s rebound above $80,000. Renewed crypto demand could support fee revenue and sentiment toward BlackRock’s digital-asset platform. Bitcoin Back Above $80K, IBIT Breaks Outflow Spell
• Positive Sentiment: BlackRock is reportedly an anchor investor in a $40 billion SpaceX GPU-leasing arrangement designed to finance AI and cloud infrastructure. The role highlights potential growth in private-market and infrastructure investing as demand for AI capacity accelerates. BlackRock Lands Twin AI Roles
• Positive Sentiment: BlackRock is participating in Envestnet’s white-labeled model-management programs for registered investment advisors and broker-dealers. Wider distribution of BlackRock models could increase assets under management and recurring fee revenue. Envestnet Custom Model Solutions
• Positive Sentiment: BlackRock Japan signed an agreement with SBI Holdings and Startale Group to explore linking tokenized money-market funds with a yen-pegged stablecoin. The initiative could create new distribution and settlement channels for BlackRock’s tokenized products. BlackRock Japan Explores Yen Stablecoin
• Neutral Sentiment: BlackRock filed for a Bitcoin ETF offering downside protection in exchange for capped upside. The product broadens its crypto lineup, although near-term revenue impact and investor demand remain uncertain. BlackRock Announces a New Bitcoin ETF
• Neutral Sentiment: BlackRock Canada announced routine cash distributions for the iShares Premium Money Market ETF, while new fund mandates from iA Financial Group provide additional product distribution but are unlikely to materially affect BLK’s near-term results.

BlackRock Trading Up 0.7%

Shares of BlackRock stock opened at $1,135.14 on Wednesday. The business has a 50-day moving average price of $1,103.33 and a two-hundred day moving average price of $1,062.94. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,187.17. The company has a market cap of $175.80 billion, a P/E ratio of 25.81 and a beta of 1.41.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping the consensus estimate of $14.32 by $1.61. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. The business’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the business posted $8.43 earnings per share. Equities research analysts forecast that BlackRock will post 57.82 EPS for the current fiscal year.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.