Blackrock (BLK)

• Market cap: $163B
• 1 day: -0.14%
• 5 days: 1.23%
• 1 month: 2.61%
• 3 months: 11.46%
• 6 months: 33.76%
• Year to date: 31.62%
• 1 year: 30.59%
• 5 years: 109.31%
• 10 years: 189.67%
• Sector: Financials
• Industry: Security Brokers, Dealers & Flotation Companies

About: BlackRock is the largest asset manager in the world, with $11.475 trillion in assets under management at the end of September 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multi-asset classes, 7% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.

Employees: 20,400

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

15% more funds holding in top 10

Funds holding in top 10: 26 [Q2] → 30 (+4) [Q3]

10% more capital invested

Capital invested by funds: $96.9B [Q2] → $106B (+$9.43B) [Q3]

5% less repeat investments, than reductions

Existing positions increased: 663 | Existing positions reduced: 700

6.25% less ownership

Funds ownership: 83.15% [Q2] → 76.9% (-6.25%) [Q3]

8% less funds holding

Funds holding: 1,919 [Q2] → 1,774 (-145) [Q3]

17% less call options, than puts

Call options by funds: $1.29B | Put options by funds: $1.55B

46% less first-time investments, than exits

New positions opened: 169 | Existing positions closed: 314

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $914 13% downside
• Avg. target: $1,119 6% upside
• High target: $1,261 20% upside

9 analyst ratings

• positive: 8 89%
• neutral: 1 11%
• negative: 0 0%

Citigroup William Katz 100% 1-year accuracy 5 / 5 met price target	14% upside $1,200	Buy Maintained	23 Dec 2024
Morgan Stanley Mike Cyprys 100% 1-year accuracy 6 / 6 met price target	20% upside $1,261	Overweight Maintained	20 Dec 2024
Barclays Benjamin Budish 70% 1-year accuracy 73 / 104 met price target	16% upside $1,220	Overweight Maintained	9 Dec 2024
Deutsche Bank Brian Bedell 70% 1-year accuracy 28 / 40 met price target	8% upside $1,133	Buy Maintained	11 Nov 2024
Evercore ISI Group Glenn Schorr 94% 1-year accuracy 31 / 33 met price target	10% upside $1,160	Outperform Maintained	7 Nov 2024