Ethic Inc. Sells 1,053 Shares of BlackRock $BLK

Key Points

• Ethic Inc. reduced its BlackRock stake by 9.5%, selling 1,053 shares in the third quarter. It held 10,015 shares worth about $10.6 million at the latest filing.
• 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 hold a “Moderate Buy” consensus rating, with an average price target of $1,342.25; 15 analysts rate the stock Buy and two rate it Hold.

Ethic Inc. cut its holdings in BlackRock (NYSE:BLK - Free Report) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,015 shares of the asset manager's stock after selling 1,053 shares during the quarter. Ethic Inc.'s holdings in BlackRock were worth $10,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. RMG Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $25,000. Addison Advisors LLC bought a new position in shares of BlackRock in the 2nd quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of BlackRock in the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of BlackRock during the second quarter worth $30,000. Finally, Putney Financial Group LLC acquired a new stake in shares of BlackRock during the third quarter worth $32,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Trading Down 0.0%

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

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

Analysts Set New Price Targets

BLK has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a report on Monday, October 19th. TD Cowen upgraded BlackRock from a "hold" rating to a "buy" rating and raised their target price for the stock from $1,212.00 to $1,405.00 in a report on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,315.00 to $1,355.00 and gave the stock a "buy" rating in a report on Thursday, October 15th. BNP Paribas Exane boosted their target price on BlackRock from $1,370.00 to $1,430.00 and gave the stock an "outperform" rating in a research report on Thursday, October 15th. Finally, Truist Financial set a $1,310.00 price target on BlackRock in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,342.25.

Key Stories 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 Company Profile

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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