BlackRock $BLK Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its BlackRock stake by 2.7% in the third quarter, selling 8,881 shares and retaining 323,300 shares valued at approximately $342.1 million. Institutional investors collectively own 80.69% of BlackRock.
• BlackRock reported strong quarterly results, with adjusted EPS of $15.93 and revenue of $7.75 billion, exceeding analyst expectations; revenue increased 19.1% year over year.
• Analysts remain broadly bullish, with BlackRock carrying a consensus “Moderate Buy” rating and an average price target of $1,342.25. Growth opportunities include expanding private-market assets, though crypto-market volatility presents a risk to its digital-asset business.

Sumitomo Mitsui Trust Group Inc. reduced its position in BlackRock (NYSE:BLK - Free Report) by 2.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 323,300 shares of the asset manager's stock after selling 8,881 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of BlackRock worth $342,145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of BlackRock in the second quarter worth about $9,747,857,000. Temasek Holdings Private Ltd raised its position in shares of BlackRock by 4.7% in the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager's stock valued at $5,126,387,000 after purchasing an additional 237,667 shares during the period. Bank of America Corp DE raised its position in shares of BlackRock by 0.7% in the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager's stock valued at $5,032,603,000 after purchasing an additional 35,069 shares during the period. Wellington Management Group LLP lifted its stake in shares of BlackRock by 23.3% during the 2nd quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager's stock valued at $4,322,283,000 after buying an additional 850,406 shares in the last quarter. Finally, Santa Clara Valley Transportation Authority purchased a new stake in shares of BlackRock during the 2nd quarter valued at approximately $129,138,253,000. 80.69% of the stock is currently owned by institutional investors.

Key Headlines Impacting BlackRock

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%

Analyst Ratings Changes

A number of research analysts recently weighed in on BLK shares. Morgan Stanley lifted their price objective on shares of BlackRock from $1,468.00 to $1,531.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,230.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,315.00 to $1,355.00 and gave the stock a "buy" rating in a research report on Thursday, October 15th. Evercore reaffirmed an "outperform" rating and issued a $1,275.00 price target (down from $1,300.00) on shares of BlackRock in a report on Friday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on BlackRock from $1,435.00 to $1,449.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. One 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. Based on data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,342.25.

BlackRock Trading Down 2.4%

Shares of BlackRock stock opened at $1,147.61 on Friday. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,187.17. The company has a market cap of $177.73 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.19 and a beta of 1.41. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The company's 50-day moving average price is $1,103.88 and its 200-day moving average price is $1,064.04.

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

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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