BlackRock $BLK Stock: Pictet Asset Management Holding SA Reduces Holdings

Pictet Asset Management Holding SA reduced its stake in shares of BlackRock (NYSE:BLK) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,259 shares of the asset manager’s stock after selling 4,924 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of BlackRock worth $100,813,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Verus Capital Partners LLC grew its stake in BlackRock by 2.6% in the third quarter. Verus Capital Partners LLC now owns 435 shares of the asset manager’s stock valued at $460,000 after purchasing an additional 11 shares in the last quarter. Pegasus Asset Management Inc. raised its stake in shares of BlackRock by 1.5% during the 3rd quarter. Pegasus Asset Management Inc. now owns 7,988 shares of the asset manager’s stock worth $8,454,000 after purchasing an additional 117 shares in the last quarter. Plancorp LLC lifted its holdings in shares of BlackRock by 15.9% during the 3rd quarter. Plancorp LLC now owns 270 shares of the asset manager’s stock valued at $310,000 after buying an additional 37 shares during the last quarter. Waycross Partners LLC acquired a new stake in shares of BlackRock during the 3rd quarter valued at about $1,961,000. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of BlackRock by 2.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 10,024 shares of the asset manager’s stock valued at $10,608,000 after buying an additional 235 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on BLK. TD Cowen raised shares of BlackRock from a “hold” rating to a “buy” rating and raised their price objective for the company from $1,212.00 to $1,405.00 in a research report on Tuesday, October 20th. Jefferies Financial Group reissued a “buy” rating and issued a $1,341.00 target price on shares of BlackRock in a research report on Wednesday, October 28th. Barclays decreased their target price 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. Weiss Ratings upgraded shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. Finally, The Goldman Sachs Group cut their price target on shares of BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. One research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,342.25.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,178.32 on Monday. The firm has a fifty day simple moving average of $1,104.90 and a 200-day simple moving average of $1,065.48. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.28. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,242.12. The stock has a market capitalization of $182.49 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.22 and a beta of 1.37.

BlackRock (NYSE:BLK) last released 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. 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 analyst estimates of $7.42 billion. During the same quarter in the previous year, the business earned $8.43 EPS. The business’s revenue was up 19.1% on a year-over-year basis. On average, sell-side analysts expect that BlackRock will post 57.82 earnings per share for the current year.

BlackRock Company 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.