3,595 BlackRock $BLK Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its BlackRock stake by 11%, selling 3,595 shares in the third quarter. It held 28,954 shares valued at about $30.6 million at quarter-end.
• BlackRock beat quarterly earnings and revenue expectations: EPS was $15.93 versus a $14.32 consensus, while revenue reached $7.75 billion and rose 19.1% year over year.
• Analysts maintained a broadly positive view, with a consensus “Moderate Buy” rating and a $1,342.25 price target. Institutional investors and hedge funds own 80.69% of the stock.

Boston Trust Walden Corp lessened its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 11.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 28,954 shares of the asset manager's stock after selling 3,595 shares during the period. Boston Trust Walden Corp's holdings in BlackRock were worth $30,642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. RMG Wealth Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $25,000. Addison Advisors LLC acquired a new position in shares of BlackRock during the second quarter worth approximately $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of BlackRock during the second quarter worth approximately $25,000. Putney Financial Group LLC bought a new stake in shares of BlackRock during the third quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of BlackRock during the second quarter valued at approximately $30,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK stock opened at $1,171.23 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,242.12. The company's 50 day moving average price is $1,104.69 and its two-hundred day moving average price is $1,065.14. The company has a market capitalization of $181.39 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.32 by $1.61. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The company's revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.43 EPS. On average, analysts expect that BlackRock will post 57.82 earnings per share for the current fiscal year.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s Preqin unit is partnering with iConnections to bring private-markets data to its AI-powered capital-introduction platform. The collaboration could expand Preqin’s reach, though the companies did not disclose expected financial impact. Article: iConnections and Preqin announce collaboration
• Neutral Sentiment: Influence Media completed a deal valued at more than $600 million for Anthem Entertainment assets, working with funds and accounts managed by BlackRock. The transaction adds exposure to music and entertainment assets, but the report does not specify BlackRock’s investment or expected returns. Article: Influence Media completes Anthem acquisition
• Neutral Sentiment: BlackRock had reached a record closing level in the prior session before shares reversed lower, suggesting a possible bout of profit-taking; the report did not identify a specific new company catalyst. Article: BlackRock sheds value in a single session
• Negative Sentiment: BlackRock’s iShares Bitcoin ETF (IBIT) recorded another substantial outflow, even as spot Bitcoin ETFs collectively returned to inflows. Persistent redemptions could weigh on IBIT assets and related fee revenue. Article: Bitcoin and Ether ETFs draw $128 million as crypto rebounds
• Negative Sentiment: Industry commentary cites fee pressure, rising costs and private-credit risks as challenges for investment managers, including BlackRock. These concerns may temper sentiment despite the company being described as positioned to navigate them. Article: Investment-management stocks amid industry challenges

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLK. Evercore restated an "outperform" rating and issued a $1,275.00 price objective (down from $1,300.00) on shares of BlackRock in a research report on Friday, October 9th. BMO Capital Markets increased their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research report on Monday, October 19th. Weiss Ratings raised BlackRock from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. UBS Group lifted their target price on BlackRock from $1,277.00 to $1,300.00 and gave the company a "buy" rating in a research note on Thursday, October 15th. Finally, BNP Paribas Exane boosted their target price on BlackRock from $1,370.00 to $1,430.00 and gave the stock an "outperform" rating in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $1,342.25.

About BlackRock

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.

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