BLK Stock Summary and Trading Ideas (Blackrock | NYSE:BLK)

BlackRock is the largest asset manager in the world, with $10.008 trillion in assets under management at the end of December 2023. Its product mix is fairly diverse, with 52% of managed assets in equity strategies, 28% in fixed income, 9% in multi-asset classes, 8% 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.

Blackrock trades on the NYSE stock market under the symbol BLK.

As of April 24, 2024, BLK stock price declined to $762.80 with 690,816 million shares trading.

BLK has a beta of 1.59, meaning it tends to be more sensitive to market movements. BLK has a correlation of 0.62 to the broad based SPY ETF.

BLK has a market cap of $113.61 billion. This is considered a Large Cap stock.

Last quarter Blackrock reported $5 billion in Revenue and $9.81 earnings per share. This beat revenue expectation by $48 million and exceeded earnings estimates by $.49.

In the last 3 years, BLK stock traded as high as $973.16 and as low as $503.12.

The top ETF exchange traded funds that BLK belongs to (by Net Assets): VTI, VOO, SCHD, SPY, IVV.

BLK has underperformed the market in the last year with a price return of +16.1% while the SPY ETF gained +24.1%. BLK has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -2.3% and -2.7%, respectively, while the SPY returned +4.5% and -1.7%, respectively.

BLK support price is $756.87 and resistance is $776.37 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BLK stock will trade within this expected range on the day.