BlackRock $BLK Stock: Candriam S.C.A. Grows Holdings

Key Points

• Candriam S.C.A. more than doubled its BlackRock stake in the third quarter, increasing holdings by 15,173 shares to 30,070 shares, valued at about $31.9 million.
• BlackRock reported quarterly EPS of $15.93, beating estimates of $14.32, while revenue rose 19.1% year over year to $7.75 billion.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $1,342.25. BlackRock also cited opportunities in AI-related debt financing, while its iShares Bitcoin Trust continued to experience outflows.

Candriam S.C.A. grew its position in shares of BlackRock (NYSE:BLK - Free Report) by 101.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,070 shares of the asset manager's stock after purchasing an additional 15,173 shares during the quarter. Candriam S.C.A.'s holdings in BlackRock were worth $31,939,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. RMG Wealth Management LLC purchased a new stake in shares of BlackRock in the 1st quarter valued at about $25,000. Addison Advisors LLC purchased a new position in BlackRock during the 2nd quarter worth approximately $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in BlackRock during the 2nd quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in BlackRock during the 3rd quarter worth approximately $32,000. Finally, Meeder Asset Management Inc. acquired a new position in BlackRock during the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Key Headlines Impacting BlackRock

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

BlackRock Trading Down 0.0%

Shares of BLK stock opened at $1,178.32 on Monday. The business's fifty day moving average price is $1,104.90 and its 200 day moving average price is $1,065.48. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,242.12. The firm has a market capitalization of $182.49 billion, a PE ratio of 26.79, a P/E/G ratio of 1.22 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating analysts' consensus estimates of $14.32 by $1.61. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter last year, the company earned $8.43 earnings per share. BlackRock's quarterly revenue was up 19.1% compared to the same quarter last year. As a group, sell-side analysts forecast that BlackRock will post 57.82 EPS for the current fiscal year.

Analysts Set New Price Targets

BLK has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,435.00 to $1,449.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Bank of America decreased their price objective on BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. BNP Paribas Exane raised their target price on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an "outperform" rating in a research report on Thursday, October 15th. TD Cowen raised shares of BlackRock from a "hold" rating to a "buy" rating and lifted their target price for the company from $1,212.00 to $1,405.00 in a report on Tuesday, October 20th. Finally, The Goldman Sachs Group cut their target price 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 equities research 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 stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average price target of $1,342.25.

About BlackRock

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.

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