BlackRock $BLK Stock: Conning Inc. Trims Holdings

Key Points

• Conning Inc. reduced its BlackRock stake by 6.1% in the third quarter, selling 2,314 shares and retaining 35,351 shares valued at approximately $37.4 million. Institutional investors and hedge funds collectively own 80.69% of BLK.
• Wall Street’s consensus view remains positive, with BlackRock rated “Moderate Buy” and an average price target of $1,342.25, although analysts have issued mixed target-price changes.
• BlackRock exceeded quarterly earnings and revenue expectations, reporting $15.93 in EPS and $7.75 billion in revenue, up 19.1% year over year. Digital-asset inflows, tokenized-finance initiatives and expanding private-markets opportunities are highlighted as potential growth drivers.

Conning Inc. cut its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,351 shares of the asset manager's stock after selling 2,314 shares during the period. Conning Inc.'s holdings in BlackRock were worth $37,412,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in BlackRock during the 2nd quarter worth $9,747,857,000. Temasek Holdings Private Ltd grew its stake 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 worth $5,126,387,000 after purchasing an additional 237,667 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of BlackRock by 0.7% during 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 increased its holdings in shares of BlackRock by 23.3% during the second quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager's stock valued at $4,322,283,000 after purchasing an additional 850,406 shares during the period. Finally, Santa Clara Valley Transportation Authority bought a new stake in shares of BlackRock during the second quarter valued at about $129,138,253,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BLK shares. Zacks Research cut shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Morgan Stanley increased their target price on shares of BlackRock from $1,468.00 to $1,531.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. Bank of America lowered their target price on shares of BlackRock from $1,320.00 to $1,287.00 in a research note on Monday, October 5th. BMO Capital Markets boosted their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a research report on Monday, October 19th. Finally, The Goldman Sachs Group dropped 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 research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,342.25.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong digital-asset momentum: BlackRock’s spot Bitcoin ETF, IBIT, attracted approximately $110 million as Bitcoin recovered above $80,000. Renewed inflows could support fee revenue and reinforce BlackRock’s leadership in cryptocurrency-based investment products. Bitcoin Back Above $80K, IBIT Breaks Outflow Spell
• Positive Sentiment: Expansion into tokenized finance: BlackRock Japan is exploring a partnership with SBI Holdings and Startale to connect tokenized money-market funds with a yen-pegged stablecoin. Although no product launch has been announced, the initiative could expand distribution and adoption of BlackRock’s digital fund infrastructure in Japan. BlackRock and SBI Explore Yen Stablecoin Link for Tokenised Funds
• Positive Sentiment: Private-markets opportunity: Preqin, now part of BlackRock, forecasts global private-markets assets under management will exceed $34 trillion by the end of 2031. The outlook highlights a sizable long-term opportunity for BlackRock’s private equity, credit, venture capital and infrastructure businesses. Preqin Forecasts Global Private Markets AUM to Exceed $34 Trillion by end of 2031
• Positive Sentiment: Broader product distribution: BlackRock is participating in Envestnet’s white-labeled model-management programs for registered investment advisers and broker-dealers. Greater access to advisor platforms could support future asset gathering and recurring management fees. Envestnet Custom Model Solutions Gives RIAs a White-Labeled Path to Outsourced Model Management
• Neutral Sentiment: BlackRock disclosed increased voting rights of 15.08% in ChemoMetec and reported stakes of 6.7% in Trimble and 14.0% in Universal Technical Institute. These filings mainly reflect portfolio or ownership activity and have limited direct implications for BLK’s earnings.
• Negative Sentiment: BlackRock’s lower-cost ether ETF is being marketed as a cheaper alternative to Grayscale’s ETHE, with potential annual savings for investors. While this may attract assets, it also underscores fee pressure across crypto ETFs and could limit revenue per dollar managed. Forget ETHE. BlackRock Charges $2,250 Less a Year to Hold the Same Ether on $100,000

BlackRock Price Performance

Shares of BLK opened at $1,158.64 on Thursday. The company has a market capitalization of $179.44 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.16 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The business's 50-day moving average is $1,103.38 and its 200-day moving average is $1,063.29. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,187.17.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 return on equity of 16.08% 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 period last year, the business earned $8.43 EPS. The business's quarterly revenue was up 19.1% on a year-over-year basis. Equities research analysts expect that BlackRock will post 57.82 EPS for the current fiscal year.

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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