BlackRock $BLK Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. cut its holdings in BlackRock (NYSE:BLK) by 62.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 630 shares of the asset manager’s stock after selling 1,063 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in BlackRock were worth $667,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. acquired a new position in shares of BlackRock during the 3rd quarter worth $219,000. M Holdings Securities Inc. acquired a new stake in shares of BlackRock in the 3rd quarter valued at $1,684,000. Brighton Jones LLC boosted its holdings in BlackRock by 23.3% in the third quarter. Brighton Jones LLC now owns 4,290 shares of the asset manager’s stock worth $4,540,000 after purchasing an additional 810 shares in the last quarter. Candriam S.C.A. boosted its holdings in BlackRock by 101.9% in the third quarter. Candriam S.C.A. now owns 30,070 shares of the asset manager’s stock worth $31,939,000 after purchasing an additional 15,173 shares in the last quarter. Finally, American State Bank Iowa increased its position in BlackRock by 13.5% during the third quarter. American State Bank Iowa now owns 740 shares of the asset manager’s stock worth $783,000 after buying an additional 88 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Performance

NYSE:BLK opened at $1,178.32 on Monday. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,242.12. The firm’s fifty day simple moving average is $1,104.90 and its 200 day simple moving average is $1,065.48. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $182.49 billion, a PE ratio of 26.79, a PEG ratio of 1.22 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its 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 net margin of 24.22% and a return on equity of 15.60%. The firm 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 business’s revenue was up 19.1% on a year-over-year basis. On average, sell-side analysts anticipate that BlackRock will post 57.82 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLK. Keefe, Bruyette & Woods raised their target price on BlackRock from $1,290.00 to $1,310.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. BNP Paribas Exane boosted their price target 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. Truist Financial set a $1,310.00 price target on BlackRock in a research note on Thursday, October 15th. Barclays cut their price objective on BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Finally, The Goldman Sachs Group reduced their target price on BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating for the company in a report on Friday, October 2nd. 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, BlackRock has a consensus rating of “Moderate Buy” and an average 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

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.