38,624 Shares in BlackRock $BLK Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments purchased 38,624 BlackRock shares worth approximately $40.9 million, while institutional investors and hedge funds collectively own 80.69% of the stock.
• Analyst sentiment remains positive: BlackRock has a “Moderate Buy” consensus rating, with 15 Buy, one Strong Buy and two Hold ratings, and an average price target of $1,342.25.
• BlackRock exceeded quarterly expectations, reporting $15.93 in earnings per share and $7.75 billion in revenue; revenue rose 19.1% year over year.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 38,624 shares of the asset manager's stock, valued at approximately $40,875,000.

Several other hedge funds also recently modified their holdings of the company. Aviance Capital Partners LLC grew its stake in shares of BlackRock by 1.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 8,329 shares of the asset manager's stock worth $8,814,000 after purchasing an additional 123 shares during the last quarter. Stevens Capital Partners acquired a new stake in BlackRock during the third quarter valued at approximately $234,000. Profund Advisors LLC boosted its holdings in BlackRock by 11.0% during the third quarter. Profund Advisors LLC now owns 1,342 shares of the asset manager's stock worth $1,420,000 after buying an additional 133 shares in the last quarter. Vise Technologies Inc. boosted its holdings in BlackRock by 11.9% during the third quarter. Vise Technologies Inc. now owns 14,233 shares of the asset manager's stock worth $15,062,000 after buying an additional 1,513 shares in the last quarter. Finally, Investment Partners LTD. boosted its holdings in BlackRock by 75.0% during the third quarter. Investment Partners LTD. now owns 770 shares of the asset manager's stock worth $815,000 after buying an additional 330 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,315.00 to $1,355.00 and gave the stock a "buy" rating in a research report on Thursday, October 15th. Jefferies Financial Group reiterated a "buy" rating and set a $1,341.00 price objective on shares of BlackRock in a research report on Wednesday. Wells Fargo & Company raised their price objective on BlackRock from $1,230.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, October 15th. Keefe, Bruyette & Woods lifted their target price on BlackRock from $1,290.00 to $1,310.00 and gave the stock an "outperform" rating in a report on Thursday, October 15th. Finally, TD Cowen raised BlackRock from a "hold" rating to a "buy" rating and boosted their target price for the stock from $1,212.00 to $1,405.00 in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,342.25.

BlackRock Trading Up 0.0%

Shares of NYSE BLK opened at $1,147.61 on Monday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a one year low of $917.39 and a one year high of $1,187.17. The business has a 50-day moving average price of $1,103.88 and a two-hundred day moving average price of $1,064.04. The firm has a market capitalization of $177.73 billion, a PE ratio of 26.09, a PEG ratio of 1.19 and a beta of 1.37.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, beating analysts' consensus estimates of $14.32 by $1.61. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The firm's quarterly 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. As a group, analysts predict that BlackRock will post 57.82 earnings per share for the current fiscal year.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Private-market assets are projected to exceed $34 trillion by 2031, supporting BlackRock’s long-term growth opportunity in private equity, private credit and other alternative investments. Private markets assets forecast to exceed $34tn by 2031, says Preqin
• Positive Sentiment: BlackRock disclosed that its ownership of OMV rose above 5%, indicating increased exposure to the energy company, although the investment’s direct effect on BlackRock’s earnings is likely limited. BlackRock Lifts OMV Stake Above 5% Threshold
• Neutral Sentiment: BlackRock’s closed-end funds announced estimated distribution sources. The disclosure is routine and mainly provides investors with information about income, capital gains and potential return of capital. Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
• Neutral Sentiment: The SEC is reviewing whether existing ETF rules adequately cover newer crypto products beyond bitcoin and ether. Clearer regulation could benefit BlackRock over time, but uncertainty may slow product development in the near term. Crypto ETFs Already Go Far Beyond Bitcoin. The SEC Wants to Know If Its Rules Have Kept Up
• Negative Sentiment: A reported $6.3 billion Binance security breach triggered a crypto-market shock, sending BlackRock’s iShares Bitcoin Trust (IBIT) lower. Falling crypto prices can reduce ETF assets under management and fee revenue while damaging sentiment toward BlackRock’s digital-asset expansion. Binance's $6.3B Hack Sends Bitcoin ETF Tumbling 5%

BlackRock Company 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.

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