BlackRock $BLK Stock Sold by First Fiduciary Investment Counsel Inc.

Key Points

• First Fiduciary Investment Counsel reduced its BlackRock stake by 3.6%, selling 965 shares and retaining 25,576 shares valued at approximately $27.1 million. BlackRock remains the firm’s third-largest holding and represents 5.2% of its portfolio.
• BlackRock reported quarterly earnings of $15.93 per share, exceeding estimates by $1.61, while revenue rose 19.1% year over year to $7.75 billion.
• Analysts maintain a favorable outlook, with BlackRock carrying a consensus “Moderate Buy” rating and an average price target of $1,342.25, above its reported opening price of $1,158.64.

First Fiduciary Investment Counsel Inc. cut its holdings in BlackRock (NYSE:BLK - Free Report) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,576 shares of the asset manager's stock after selling 965 shares during the quarter. BlackRock accounts for 5.2% of First Fiduciary Investment Counsel Inc.'s portfolio, making the stock its 3rd biggest holding. First Fiduciary Investment Counsel Inc.'s holdings in BlackRock were worth $27,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLK. Stronghold Wealth Management L.L.C. raised its position in BlackRock by 2.9% in the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager's stock worth $345,000 after acquiring an additional 10 shares in the last quarter. Financial Management Professionals Inc. grew its stake in shares of BlackRock by 1.8% during the 2nd quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager's stock worth $542,000 after purchasing an additional 10 shares during the period. JNBA Financial Advisors grew its stake in shares of BlackRock by 1.4% during the 2nd quarter. JNBA Financial Advisors now owns 706 shares of the asset manager's stock worth $679,000 after purchasing an additional 10 shares during the period. McGlone Suttner Wealth Management Inc. increased its holdings in shares of BlackRock by 0.8% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager's stock valued at $1,275,000 after purchasing an additional 10 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in shares of BlackRock by 2.9% in the 3rd quarter. Revolve Wealth Partners LLC now owns 360 shares of the asset manager's stock valued at $381,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Price Performance

BlackRock stock opened at $1,158.64 on Thursday. The firm has a market capitalization of $179.44 billion, a PE ratio of 26.34, a P/E/G ratio of 1.16 and a beta of 1.41. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,187.17. The firm's 50-day simple moving average is $1,103.38 and its 200 day simple moving average is $1,063.29. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33.

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

More BlackRock News

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

Analyst Ratings Changes

Several analysts recently commented on BLK shares. Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an "outperform" rating in a research note on Thursday, October 15th. Weiss Ratings cut BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Evercore restated 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. TD Cowen raised BlackRock from a "hold" rating to a "buy" rating and raised their price objective for the company from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $1,341.00 price objective on shares of BlackRock in a report on Wednesday. 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. According to MarketBeat, BlackRock currently has a consensus 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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