BlackRock $BLK Stock Position Cut by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lessened its holdings in shares of BlackRock (NYSE:BLK) by 14.8% during the third quarter, Holdings Channel.com reports. The firm owned 15,756 shares of the asset manager’s stock after selling 2,747 shares during the quarter. BlackRock makes up 0.8% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 24th biggest holding. UNIVEST FINANCIAL Corp’s holdings in BlackRock were worth $16,675,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BLK. RMG Wealth Management LLC bought a new position in BlackRock during the 1st quarter worth $25,000. Addison Advisors LLC acquired a new position in BlackRock during the 2nd quarter worth about $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of BlackRock in the second quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of BlackRock during the second quarter worth about $30,000. Finally, Putney Financial Group LLC bought a new position in shares of BlackRock during the third quarter worth about $32,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.4%

NYSE BLK opened at $1,226.72 on Thursday. 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 business has a fifty day simple moving average of $1,109.30 and a 200 day simple moving average of $1,066.82. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,242.12. The firm has a market capitalization of $189.98 billion, a P/E ratio of 27.89, a PEG ratio of 1.27 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping the consensus estimate of $14.32 by $1.61. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the previous year, the firm earned $8.43 earnings per share. The business’s revenue was up 19.1% on a year-over-year basis. On average, analysts predict that BlackRock will post 57.82 EPS for the current fiscal year.

Key BlackRock News

Here’s some of the latest news about BLK:

• Positive Sentiment: Barclays increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 48% in the third quarter, to about $187 million. The larger position suggests continued institutional participation in the fund, despite recent market-wide outflows. Article: Barclays boosts BlackRock Bitcoin ETF stake
• Neutral Sentiment: The House passed a bill that could broaden investment options in 403(b) retirement plans, potentially creating opportunities for asset managers such as BlackRock. The impact depends on further legislative steps and how plan providers implement the changes. Article: House passes retirement fairness bill
• Negative Sentiment: IBIT recorded seven consecutive sessions of net withdrawals, totaling about $1.66 billion, including roughly $213 million on Nov. 9. BlackRock’s Ether ETF also saw substantial withdrawals. Persistent redemptions could weigh on crypto-related assets under management, fee revenue and investor sentiment, although these funds are only part of BlackRock’s broader business. Article: BlackRock Bitcoin ETF outflows Article: Ether ETFs see outflows

Analyst Upgrades and Downgrades

Several brokerages recently commented on BLK. Barclays reduced their target price on BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Jefferies Financial Group restated a “buy” rating and issued a $1,341.00 target price on shares of BlackRock in a report on Wednesday, October 28th. Weiss Ratings upgraded shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. The Goldman Sachs Group lowered 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. Finally, BNP Paribas Exane boosted their price target on BlackRock from $1,370.00 to $1,430.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,342.25.

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.