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BlackRock

BlackRock is the largest asset manager in the world, with $10.646 trillion in assets under management at the end of June 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multiasset 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.

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Las salidas de Ethereum (CRYPTO: ETH) de Grayscale han experimentado una caída del 80%, lo que podría indicar la llegada de un rally.

Grayscale reduce salidas de Ethereum y podría impulsar un rally

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The quarterly performance of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) adequately reflects that the <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/41046485/whats-going-on-with-nvidia-braodcom-intel-and-other-chip-stocks-on-thursday" rel="noreferrer noopener">artificial intelligence wave</a> is in no mood to slow down in the near term.
Hyperscalers, including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) remain aggressively invested in their artificial intelligence ambitions. The U.S. and China&#8217;s key rate cuts also added an additional tailwind for the capital-intensive industry.
Microsoft committed 14.7 billion Reais ($2.70 billion) over three years to Brazil&#8217;s cloud and artificial intelligence (AI) infrastructure, according to a Reuters report.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41055252/microns-ai-driven-hbm-demand-and-data-center-growth-to-fuel-stock-upside-analysts-s" rel="noreferrer noopener">Micron&#8217;s AI-Driven HBM Demand and Data Center Growth to Fuel Stock Upside, Analysts Say</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27051414/newplot-23.png" alt="" class="wp-image-569372" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27051414/newplot-23.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27051414/newplot-23-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The company&#8217;s ConectAI program will train 5 million people with AI skills over the next three years. Microsoft already has two Azure regions: one in São Paulo state, which it launched in 2014, and another in Rio de Janeiro, which it launched in 2020.
Earlier this week, Microsoft <a target="_blank" href="https://www.benzinga.com/government/24/09/41020845/microsoft-invests-1-3b-to-boost-ai-skills-and-infrastructure-in-mexico" rel="noreferrer noopener">earmarked $1.3 billion</a> over the next three years to drive Mexico&#8217;s AI infrastructure and initiatives, including training 5 million people. Microsoft also collaborated with BlackRock, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) and other partners, forging a fresh $30 billion investment fund to <a target="_blank" href="https://www.benzinga.com/news/24/09/40909973/blackrock-microsoft-others-team-up-for-30b-artificial-intelligence-fund-help-us-fuel-ai-innovation-a" rel="noreferrer noopener">tap the AI wave</a>.
Google is eyeing a $3.3 billion investment in South Carolina to build two new data centers. The search engine giant&#8217;s plans included two new data center campuses in Dorchester County and expanding its existing data center campus in Berkeley County, Reuters cites the South Carolina governor&#8217;s office as saying.
Alphabet committed $2 billion to the Dorchester County facilities, potentially creating 200 new operational jobs. According to Reuters, the company also earmarked $1.3 billion for Berkeley County.
Another positive update for the industry is the <a target="_blank" href="https://www.ft.com/content/ff0ca77d-ad35-45ba-a493-201a26932efb" rel="noreferrer noopener">report</a> indicating struggling chipmaker Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and the U.S. government are trying to finalize the $8.5 billion in direct funding for the chipmaker before the end of the year.
Therefore, Intel&#8217;s exploration of stake sales to companies like Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) could also disrupt its chances of bagging the subsidy over antitrust grounds. Intel had already faced <a target="_blank" href="https://www.benzinga.com/m-a/24/08/40648165/intel-weighs-major-business-split-factory-delays-amid-strategic-review-report" rel="noreferrer noopener">Senator scrutiny over</a> its cost-cutting measures as the subsidy aims to create additional U.S. jobs.
Semiconductor ETFs VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) gained 5%-6% in the last 5 days.
Price Actions: INTC stock is up 1.21% to $24.21 premarket at last check on Friday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41054106/meta-analysts-highlight-ai-vr-advances-see-growth-pushing-it-toward-apple-like-valuation" target="_blank" rel="noreferrer noopener">Meta Analysts Highlight AI, VR Advances, See Growth Pushing It Toward Apple-Like Valuation</a></li>
</ul>
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GOOG

GOOGL

INTC

MSFT

NVDA

QCOM

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Microsoft, Google, Meta Pave Path to AI Expansion, Nvidia and Broadcom Set to Reap Benefits

BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) has outperformed the market over the past 20 years by 5.06% on an annualized basis producing an average annual return of 13.46%. Currently, BlackRock has a market capitalization of $138.87 billion. 
Buying $100 In BLK: If an investor had bought $100 of BLK stock 20 years ago, it would be worth $1,264.42 today based on a price of $937.49 for BLK at the time of writing.
<h3>BlackRock's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727375416_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,300 Today

The agreement follows an initial transaction whereby funds and accounts managed by BlackRock agreed to provide financing on a $600 million diversified portfolio of infrastructure credit from Santander.

BlackRock, Santander Expand Partnership For Private Asset Financing; Blackrock To Invest Up To $1B Per Year In Select Project Finance, Energy Finance, And Infrastructure Debt Investment Opportunities

Global financial services company The Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) secured an exception from the U.S. Securities and Exchange Commission&#8217;s (SEC) contentious SAB 121 rule, paving the way for its entry into the lucrative but largely untapped cryptocurrency custody market.
What Happened: The regulator did not raise any objections to BNY&#8217;s plan to safeguard cryptocurrency assets for its exchange-traded product clients, without reflecting these assets on the bank&#8217;s balance sheet, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-24/bny-plans-to-custody-crypto-for-etfs-after-sec-review">reported</a> Tuesday.
This is a significant development considering the ongoing debate around the SEC&#8217;s SAB 121 rule, which mandates that companies holding customers' cryptocurrencies <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">must record them on their balance sheets</a>. Banks have been critical of this rule, arguing that it hampers their ability to custody digital assets.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41017645/elon-musk-applauds-pro-bitcoin-el-salvador-president-nayib-bukele-for-un-address-we-do-not">Elon Musk Applauds Pro-Bitcoin El Salvador President Nayib Bukele For UN Address</a>
BNY clarified that the SEC&#8217;s non-objection is limited to its ETP use case and does not address the broader issue of SAB 121 restricting bank custody of digital assets. The bank intends to continue its engagement with the Office of the Chief Accountant (OCA) on additional use cases through the OCA&#8217;s &#8216;facts and circumstances&#8217; process.
Why It Matters: A TradFi giant, BNY holds more than $50 trillion in assets as of June 30. Its decision to step into the digital custodian market could be influenced by the successful launch of spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) exchange-traded funds (ETFs) earlier this year.
Currently, the market is lop-sided, with Coinbase being the primary custodian for most ETFs. Its hegemony was challenged somewhat after Anchorage Digital Bank <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40835527/crypto-bank-anchorage-digital-challenges-coinbases-etf-custody-dominance">secured a role as custodian</a> for the&nbsp;ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
This development comes amidst a broader debate around the SEC&#8217;s SAB 121 rule. Republican lawmakers from both the Senate and House <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41007125/caitlin-long-says-progressives-are-actually-big-bank-corporatists-as-republican-lawmakers-">urged the SEC to retract this controversial accounting rule</a> for cryptocurrency assets.
It is the only cryptocurrency-related legislation to pass through the House and Senate, although it was vetoed by the White House in May.
Price Action: Shares of BNY closed 0.27% lower at $71.87 during Tuesday&#8217;s regular trading session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41008797/core-emerges-as-leading-bitcoin-sidechain-by-total-value-locked">Core Emerges As Leading Bitcoin Sidechain By Total Value Locked</a></li>
</ul>
Photo courtesy: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Markets

$BTC

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

BNY Mellon Gets Exemption From SEC's Controversial Crypto Custody Rule: Will It Challenge Coinbase's Hegemony In Holding Assets For Bitcoin And Ethereum ETFs?

BlackRock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company&#39;s changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for BlackRock basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
<h2>Most Powerful Force Impacting Stock Prices</h2>
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That&#39;s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For BlackRock, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company&#39;s underlying business. And investors&#39; appreciation of this improving business trend should push the stock higher.
<h2>Harnessing the Power of Earnings Estimate Revisions</h2>
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
<h2>Earnings Estimate Revisions for BlackRock</h2>
For the fiscal year ending December 2024, this investment firm is expected to earn $41.37 per share, which is a change of 9.5% from the year-ago reported number.
Analysts have been steadily raising their estimates for BlackRock. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.3%.
<h2>Bottom Line</h2>
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of BlackRock to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2340060/blackrock-blk-upgraded-to-buy-here-s-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2340060">To read this article on Zacks.com click here.</a>

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Analyst Ratings

BlackRock Upgraded to Buy: Here's What You Should Know

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETFs recorded a small net inflow of $4.56 million on Monday as miner revenues signal a potential uptrend <a href="https://www.benzinga.com/money/bitcoin-price-prediction">in the making.</a>
What Happened: Significant contributions came from Fidelity&#8217;s ETF (CBOE: FBTC), which added $24.93 million, and the BlackRock ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), with an inflow of $11.54 million.
However, Grayscale's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) recorded a notable outflow of $40.33 million, reflecting mixed sentiment within the market, according to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot">data</a> from SoSo Value.
Meanwhile, Ethereum spot ETFs experienced a major outflow of $79.21 million, largely driven by a $80.55 million outflow from Grayscale's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>), though Bitwise's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHW#NYSE">ETHW</a>) saw a modest inflow of $1.34 million, <a href="https://sosovalue.xyz/assets/etf/us-eth-spot">data</a> shows.
Bitcoin continues to hover near $63,500, up just 0.1% over the past 24 hours, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has seen a slight decline, trading down 0.1% at $2,642.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40989892/bitcoins-22-rally-isnt-enough-it-must-break-august-high-to-overcome-downtrend-bitfinex-ana">Bitcoin&#8217;s 22% Rally Isn&#8217;t Enough, It Must Break August High To Overcome Downtrend, Bitfinex Analysts Say</a>
Why It Matters: As institutional interest in Bitcoin ETFs persists, industry experts are weighing in on what could drive prices in the near term.
Eric Balchunas, Senior ETF Analyst at Bloomberg, <a href="https://x.com/EricBalchunas/status/1838296036772593716">highlighted</a> BlackRock&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) method of securing its Bitcoin holdings, stating, &#8220;BlackRock runs their own blockchain node and ensures that Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) deposits Bitcoin directly on-chain within 12 hours of instruction. This is why they, and other major ETF issuers, are trusted by America&#8217;s advisors—they've perfected this process over decades.&#8221;
Balchunas&#8217; comments underline the trust institutions place in BlackRock's processes, which remain key to the continued confidence in Bitcoin ETFs.
On the broader market dynamics, Iliya Kalchev, a Nexo Dispatch Analyst, pointed out the potential impact of Bitcoin miners on price action. 
"Bitcoin miner revenues remain at multi-year lows, creating the potential for price appreciation if miners start distributing Bitcoin at higher prices to sustain their operations," he told Benzinga. 
Kalchev added that traders, rather than investors, could be the primary drivers of Bitcoin's short-term moves, with Bitcoin open interest at over $25 billion. 
He highlighted that a breakout above $66,000 would signal growing optimism as the options market currently favors calls above that level.
Ilia Otychenko, Lead Analyst at CEX.IO, provided a technical analysis of Bitcoin's current resistance levels. 
"Bitcoin remains near the 200-day SMA and the previous local high, both key resistance levels. A sustained break above the 200-day SMA could drive Bitcoin toward the $66,000–$67,300 supply zone. However, failure at these levels may lead to consolidation or a drop to $62,700," Otychenko explained. 
He also noted that, while Bitcoin has tested major resistance, low trading volumes during the attempt have prevented further gains.
Despite short-term uncertainties, Otychenko remains bullish on Bitcoin's longer-term outlook. 
"The weekly RSI has broken above its descending resistance trendline, a historically bullish indicator. If this pattern holds, Bitcoin could be on track for a new all-time high in the coming months," he added.
What&#8217;s Next: Industry experts will have the opportunity to explore these themes in depth at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40990471/donald-trumps-crypto-portfolio-surges-by-over-800k-in-september">Donald Trump&#8217;s Crypto Portfolio Surges By Over $800K In September</a></li>
</ul>
Image: Shutterstock

COIN

Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

FBTC

GBTC

IBIT

Bitcoin ETFs See $4.5M Inflow, But Miners Could Actually Cause The Next Big Move Up

The U.S. Securities and Exchange Commission (SEC) has given the green light for the listing and trading of options for BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded fund (ETF).
What Happened: The approved options will be listed on the Nasdaq under the ticker symbol &#8220;IBIT.&#8221; This move allows institutional investors and traders to hedge their exposure to bitcoin more efficiently.
Options trading provides a cost-effective way to amplify exposure to bitcoin, offering an alternative method for managing investments in the world&#8217;s largest cryptocurrency. The approval marks another significant step for cryptocurrency, which has been gaining mainstream acceptance.
See Also: <a href="https://www.benzinga.com/news/24/09/40953535/anybody-who-votes-for-a-democrat-or-kamala-worst-you-should-have-your-head-examined-trump-tells-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Anybody Who Votes For A Democrat Or Kamala, Worst…You Should Have Your Head Examined:&#8217; Trump Tells Voters</a>
Earlier this year, bitcoin ETFs were launched, bringing the asset class closer to widespread adoption. Options give holders the right to buy or sell an asset at a predetermined price by a set date, adding flexibility to investment strategies.
Exchanges began applying for spot bitcoin ETF options as soon as it became evident that the SEC would approve the underlying ETFs in January. The SEC oversees the technical rule changes required for exchanges to list options and confirmed that existing surveillance procedures will apply to IBIT options.
Why It Matters: The approval of Bitcoin ETF options comes at a time when the cryptocurrency market is showing signs of strength. Analysts have <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40963556/experts-predict-bitcoin-surge-to-65-000-as-crypto-market-remains-steady">projected Bitcoin to reach $65,000</a> in the near term, citing increased long positions and bullish options activity. This positive market sentiment is further bolstered by the SEC&#8217;s recent approval, which is likely to attract more institutional investors to the crypto space.
Moreover, the outcome of the 2024 election could have a significant impact on Bitcoin&#8217;s price, according to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40778409/donald-trump-winning-the-election-could-propel-bitcoin-to-90k-but-a-kamala-harris-win-coul">Bernstein report</a>. A Trump victory could potentially propel Bitcoin to new heights, reaching $80,000 to $90,000 by the end of Q4, while a Harris win could see Bitcoin retreating to the $30,000 to $40,000 range. The approval of Bitcoin ETF options, therefore, adds another layer of intrigue to the potential impact of the election on the cryptocurrency market.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image: Shutterstock

Equities

Options

General

SEC Greenlights Options Trading For BlackRock's Spot Bitcoin ETF, Offering New Hedge For Institutional Investors

In the face of a $35 trillion federal debt crisis, global asset manager BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) strategically advocated for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a safeguard, potentially raising the upside potential of the world&#8217;s largest cryptocurrency.
What Happened: BlackRock noted concerns about the spiraling $35 trillion U.S. fiscal deficit, attributing it as a significant driver of growing institutional interest in Bitcoin, according to a paper authored by some of the top executives from the asset management giant, including BlackRock&#8217;s ETF Chief Investment Officer Samara Cohen and Head Of Digital Assets Robert Mitchnick.
&#8220;The growing concerns in the U.S. and abroad over the state of U.S. federal deficits and debt have increased the appeal of potential alternative reserve assets as a potential hedge against possible future events affecting the U.S. dollar,&#8221; the paper outlined. &#8220;In our experience with clients to date, this explains a substantial portion of the recent broadening institutional interest in Bitcoin.&#8221;
BlackRock, which manages around $10 trillion in assets, also described Bitcoin as a &#8220;unique diversifier&#8221; to hedge against fiscal, monetary, and geopolitical risks.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a>
Why It Matters: BlackRock&#8217;s bullish observations followed former U.S. President Donald Trump&#8217;s vision to use Bitcoin to offset the U.S.&#8217;s $35 trillion debt, a step that was <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152445/trumps-bold-plan-to-use-bitcoin-to-wipe-out-35t-us-debt-questioned-by-economist-justin-wol">heavily criticized</a> by influential economists like Justin Wolfers and Paul Krugman.
Recall that Sen.&nbsp;Cynthia Lummis&nbsp;(R-Wyo.) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas">proposed a landmark legislation</a> in July to establish a strategic Bitcoin reserve, aimed at enhancing the dollar&#8217;s strength and addressing the country&#8217;s $35 trillion debt. The bill hinges on the expectations that a million Bitcoin 20 years from now would be worth $17 trillion.
BlackRock CEO Larry Fink is <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937953/larry-fink-defies-blackrocks-largest-shareholder-to-make-a-bold-bet-on-bitcoin-heres-how-h">known for his Bitcoin advocacy</a>, calling the digital currency a hedge against inflation given rising global tensions and threats of de-dollarization.
The firm&#8217;s successful campaign to launch a fully-fledged U.S. spot Bitcoin exchange-traded fund, iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), has been a major driving force of the Bitcoin price in 2024.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,788.62, up 1.54% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;Shares of BlackRock closed 1.29% higher at $934.61 during Thursday&#8217;s regular trading session.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945629/bitcoin-could-surge-after-interest-rate-cut-as-macro-drivers-take-over-standard-chartered">Bitcoin Could Surge After Interest Rate Cut As Macro Drivers Take Over: Standard Chartered</a></li>
</ul>

Bitcoin's Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against 'Possible Future Events' Affecting The Dollar

Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) shares are trading higher on Thursday after the company commended Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and BlackRock, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40937058/rezolve-ai-welcomes-microsoft-and-blackrocks-30-billion-investment-in-ai-infrastructure-as-a-game-" rel="noreferrer noopener">$30 billion investment in AI infrastructure</a>.
Earlier this week, Microsoft partnered with investment company&nbsp;BlackRock&nbsp;and several other partners on a new&nbsp;$30 billion&nbsp;investment fund to target the growing&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/artificial-intelligence" rel="noreferrer noopener">artificial intelligence sector.</a>
The new investment, which adds to Microsoft&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/01/30527688/microsoft-ramps-efforts-to-build-ai-supercomputer-with-chatgpt-ahead-of-q2-earnings" rel="noreferrer noopener">growing bets on the AI space</a>, includes the participation of BlackRock,&nbsp;Global Infrastructure Partners&nbsp;and&nbsp;MGX.
Related: <a target="_blank" href="https://www.benzinga.com//node/40909973" rel="noreferrer noopener">BlackRock, Microsoft, Others Team Up For $30B Artificial Intelligence Fund: Help US Fuel &#8216;AI Innovation And Economic Growth&#8217;</a>
Rezolve AI said it is set to capitalize on the AI infrastructure upgrade, enhancing its proprietary solutions like the Brain Suite, driven by the brainpowa LLM, to advance hyper-personalization in commerce and customer engagement.
The investment by Microsoft and BlackRock underscores AI&#8217;s transformative potential on a large scale, positioning Rezolve AI to lead this evolution in the commerce sector.
Daniel M. Wagner, CEO of Rezolve AI, said, &#8220;The substantial investment by Microsoft and BlackRock into AI infrastructure reflects the accelerating pace of AI adoption across every industry.&#8221;
&#8220;For companies like Rezolve AI, this investment marks a pivotal shift in the landscape, providing the technological foundation that will allow AI innovators to scale more rapidly and deliver increasingly sophisticated solutions.&#8221;
&#8220;As a company committed to revolutionizing commerce through our suite of AI products, including Brain Commerce and Brain Checkout, we view this as a tremendous opportunity to leverage the evolving infrastructure and collaborate with major players in AI.&#8221;
Also, Rezolve AI responded to OpenAI&#8217;s new release, &#8220;Strawberry.&#8221; CEO Daniel M. Wagner emphasized his conviction that the future of AI lies in industry-specific<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40901998/rezolve-ai-joins-openais-latest-release-advocates-for-vertical-market-ai-solutions-in-retail-and-c" rel="noreferrer noopener"> solutions tailored to vertical markets</a>.
Price Action: RZLV shares are up 41.7% at $6.73 at the last check Thursday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/40940207" target="_blank" rel="noreferrer noopener">Plug Power Fuels Sales Boom With $150M+ Equipment Leasing Strategy &#8211; What&#8217;s The Benefit?</a></li>
</ul>

Small Cap

Movers

RZLV

Rezolve AI Set To Ride The AI Wave - What's Going On?

Investors are on edge in the lead-up to the Wednesday Federal Open Market Committee interest rate decision that is expected to deliver the first cut to the federal funds rate <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40921827/fed-decision-is-here-5-things-investors-need-to-know-ahead-of-wednesdays-pivotal-in">in over four years.</a>
The market is divided on the magnitude of the anticipated rate cut. Traders are assigning a 59% probability to a 50-basis-point cut, while a 41% chance is placed on a more modest 25-basis-point reduction. The size of the rate cut is crucial as it could trigger significant market reactions.
Should the Fed opt for a 50-basis-point cut, it may be perceived as an acknowledgment that interest rates are overly restrictive. This could lead to increased expectations for further rate cuts in the coming months, potentially fueling risk sentiment and driving stock prices higher.
Conversely, a 25-basis-point cut might disappoint investors who are betting on a more aggressive measure.
Since the start of 2022, the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has experienced an average move of plus or minus 1.3% during FOMC events, reflecting the market&#8217;s high sensitivity to Fed policy decisions.
Goldman Sachs equity analysts, including John Marshall, analyzed stock movements during the first rate cuts in the previous three Fed easing cycles (Sept. 18, 2007, July 31, 2019 and March 3, 2020).
The data highlights the average moves of several key S&amp;P 500 stocks with liquid options during these periods.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Rank</th>
<th>Name</th>
<th>Absolute Average Move</th>
</tr>
</thead>
<tbody>
<tr>
<td>1</td>
<td>Caesars Entertainment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>)</td>
<td>5.9%</td>
</tr>
<tr>
<td>2</td>
<td>Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>5.5%</td>
</tr>
<tr>
<td>3</td>
<td>Capital One Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>)</td>
<td>4.6%</td>
</tr>
<tr>
<td>4</td>
<td>Charles Schwab Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>)</td>
<td>4.6%</td>
</tr>
<tr>
<td>5</td>
<td>Mastercard Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>)</td>
<td>4.5%</td>
</tr>
<tr>
<td>6</td>
<td>Fortinet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>)</td>
<td>4.3%</td>
</tr>
<tr>
<td>7</td>
<td>Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>)</td>
<td>4.2%</td>
</tr>
<tr>
<td>8</td>
<td>American Express Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</td>
<td>3.8%</td>
</tr>
<tr>
<td>9</td>
<td>Newmont Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td>
<td>3.7%</td>
</tr>
<tr>
<td>10</td>
<td>Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>)</td>
<td>3.6%</td>
</tr>
<tr>
<td>11</td>
<td>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>)</td>
<td>3.6%</td>
</tr>
<tr>
<td>12</td>
<td>Texas Instruments Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)</td>
<td>3.5%</td>
</tr>
<tr>
<td>13</td>
<td>3M Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>)</td>
<td>3.3%</td>
</tr>
<tr>
<td>14</td>
<td>Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td>
<td>3.2%</td>
</tr>
<tr>
<td>15</td>
<td>JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>3.2%</td>
</tr>
<tr>
<td>16</td>
<td>Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)</td>
<td>3.0%</td>
</tr>
<tr>
<td>17</td>
<td>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>)</td>
<td>3.0%</td>
</tr>
<tr>
<td>18</td>
<td>Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)</td>
<td>2.9%</td>
</tr>
<tr>
<td>19</td>
<td>Visa Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>)</td>
<td>2.7%</td>
</tr>
<tr>
<td>20</td>
<td>Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>)</td>
<td>2.3%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40908202/10-etfs-investors-secretly-bought-before-the-feds-make-or-break-interest-rate-cal">10 ETFs Investors Secretly Bought Before The Fed&#8217;s Make-Or-Break Interest Rate Call</a></li>
</ul>
Federal Reserve illustration created using artificial intelligence via MidJourney.

Mid Cap

Broad U.S. Equity ETFs

Econ #s

Federal Reserve

ETFs

FTNT

ORCL

SBUX

SCHW

20 S&P 500 Stocks That Move The Most When The Fed Starts Cutting Interest Rates

BlackRock AI Partnership To Mobilize Up To $100B In Total Investment Potential When Including Debt Financing

BlackRock, Global Infrastructure Partners, Microsoft, And MGX Unveil New AI Partnership; Partnership To Initially Seek To Unlock $30B Of Private Equity Capital Over Time

<a href="https://www.ft.com/content/4441114b-a105-439c-949b-1e7f81517deb" title="https://www.ft.com/content/4441114b-a105-439c-949b-1e7f81517deb">https://www.ft.com/content/4441114b-a105-439c-949b-1e7f81517deb</a>

'BlackRock and Microsoft plan $30bn fund to invest in AI infrastructure' -FT

BlackRock's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) short percent of float has risen 22.12% since its last report. The company recently reported that it has 1.86 million shares sold short, which is 1.27% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.6 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>BlackRock Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726507817_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for BlackRock has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing BlackRock's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, BlackRock's peer group average for short interest as a percentage of float is 3.50%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(BLK) - Analyzing BlackRock's Short Interest

BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) has outperformed the market over the past 5 years by 1.88% on an annualized basis producing an average annual return of 14.93%. Currently, BlackRock has a market capitalization of $130.46 billion. 
Buying $100 In BLK: If an investor had bought $100 of BLK stock 5 years ago, it would be worth $202.14 today based on a price of $880.73 for BLK at the time of writing.
<h3>BlackRock's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726153251_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning BlackRock Stock In The Last 5 Years

Wells Fargo analyst Michael Brown initiates coverage on BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Overweight rating and announces Price Target of $1000.

Price Target

Initiation

Wells Fargo Initiates Coverage On BlackRock with Overweight Rating, Announces Price Target of $1000

<ul>
<li>Firms to launch first-of-its-kind model portfolio solution streamlining retail wealth access to private equity, private credit, and real assets</li>
<li>Will enable advisors to deliver a one-stop multi-private markets portfolio managed by two global asset managers</li>
<li>Positions BlackRock and Partners Group to capture accelerating growth in private markets and managed models</li>
</ul>

BlackRock And Partners Group Launch First-Of-Its-Kind Multi-Private Markets Portfolio For Wealth Advisors

Barclays analyst Benjamin Budish maintains BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Overweight and raises the price target from $985 to $990.

Barclays Maintains Overweight on BlackRock, Raises Price Target to $990

This Gigapower expansion may include growth in its existing geographies as well as the addition of new geographies.
In order to reach even more people with AT&amp;T Fiber in geographies not served by AT&amp;T&#39;s network or Gigapower, AT&amp;T is announcing four new agreements with commercial open-access providers: Boldyn Networks, Digital Infrastructure Group, PRIME FiBER and Ubiquity.
These fiber agreements provide AT&amp;T with wholesale access to these fiber broadband networks, enabling the Company to offer both AT&amp;T Fiber and 5G wireless services to more customers.

AT&T, Blackrock Plan To Grow Gigapower, Look For Opportunities To Expand Fiber Footprint Beyond The Initial 1.5M Locations Announced In December 2022

Throughout the last three months, 13 analysts have evaluated BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated BlackRock and provided 12-month price targets. The average target is $941.77, accompanied by a high estimate of $1036.00 and a low estimate of $837.00. This upward trend is apparent, with the current average reflecting a 1.36% increase from the previous average price target of $929.17.
<img src="https://www.benzinga.com/files/images/story/2024/1725544808_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A comprehensive examination of how financial experts perceive BlackRock is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$945.00</td>
<td>$920.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$985.00</td>
<td>-</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$937.00</td>
<td>$912.00</td>
</tr>
<tr>
<td>William Katz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$930.00</td>
<td>$920.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Buy</td>
<td>$912.00</td>
<td>$924.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$920.00</td>
<td>$910.00</td>
</tr>
<tr>
<td>Stephen Biggar</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$910.00</td>
<td>$880.00</td>
</tr>
<tr>
<td>Mike Cyprys</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$1036.00</td>
<td>$1013.00</td>
</tr>
<tr>
<td>Aidan Hall</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$934.00</td>
<td>$915.00</td>
</tr>
<tr>
<td>Mike Cyprys</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$1013.00</td>
<td>$1025.00</td>
</tr>
<tr>
<td>Brennan Hawken</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$837.00</td>
<td>$842.00</td>
</tr>
<tr>
<td>Bill Katz</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$969.00</td>
<td>$974.00</td>
</tr>
<tr>
<td>Aidan Hall</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$915.00</td>
<td>$915.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to BlackRock. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of BlackRock compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of BlackRock's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into BlackRock's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BLK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on BlackRock analyst ratings.</a>
<h2>About BlackRock</h2>
BlackRock is the largest asset manager in the world, with $10.646 trillion in assets under management at the end of June 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multiasset 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.
<h3>BlackRock: Delving into Financials</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Positive Revenue Trend: Examining BlackRock's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 7.66% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Financials sector.
Net Margin: BlackRock's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 31.11%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 3.75%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): BlackRock's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 1.2%, the company may face hurdles in achieving optimal financial performance.
Debt Management: BlackRock's debt-to-equity ratio is below the industry average. With a ratio of 0.29, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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