3. BlackRock, Inc. (NYSE:BLK)
Li’s Stake Value: $4,624,000
Percentage of Qing Li’s 13F Portfolio: 0.96%
Number of Hedge Fund Holders: 47
Blackrock, Inc. is a US-based investment management corporation that specializes in advisory, investment, and risk management services. Qing Li’s Sciencast management holds 5152 shares in Blackrock, Inc. (NYSE: BLK), worth over $4.62 million.
Out of the hedge funds being tracked by Insider Monkey, Florida-based firm Ivy Lane Capital is a leading shareholder in BlackRock, Inc. (NYSE: BLK) with 21,500 shares worth more than $18 billion. For the second quarter of 2021, the company beat the analysts’ EPS estimate of $9.47 by $0.56.
On August 31, the price target on BlackRock, Inc. (NYSE: BLK) was increased from $1001 to $1075 and a Buy rating was maintained by investment advisory firm Jefferies. This was accredited to the record ETF inflows in 2021.
Based on the data of the 873 funds tracked by Insider Monkey, the number of hedge fund positions in BlackRock, Inc. (NYSE: BLK) increased to 47 at the end of the second quarter of 2021 compared to 42 in the first quarter.
Asset management firm Baron Funds shared its stance on BlackRock, Inc. (NYSE: BLK) in their Q1 2021 investor letter. Here’s what Baron FinTech Fund said:
“During the quarter, we initiated a position in BlackRock Inc., the world’s largest investment manager with $9 trillion in assets under management. BlackRock offers an array of products across equities, fixed income, alternatives, and cash management to institutional and retail investors worldwide. About one-quarter of BlackRock’s assets under management is actively managed, and the rest is in passive index funds and iShares-branded ETFs. The company offers technology services including the investment and risk management platform, Aladdin, as well as other advisory services and solutions. Over the five years ending December 31, 2020, assets under management and earnings per share grew at compound annual growth rates of 13% and 12%, respectively.
We believe BlackRock is well positioned for continued growth given its diverse product offering, global distribution, brand recognition, and capable management team. With most of its assets in index funds and ETFs, BlackRock is a prime beneficiary of the ongoing shift to passive investing. The company also benefits from increasing demand for sustainable investment strategies and “barbell” strategies that use a combination of low-cost index funds, active and illiquid alternatives products. BlackRock fits squarely within our Tech-Enabled Financials theme given its longstanding commitment to innovation and proprietary technology platform, Aladdin, which serves as the investment and risk management system for both BlackRock and a growing number of institutional investors around the world. We expect BlackRock’s earnings per share will continue to grow at a doubledigit annual rate over a market cycle through a combination of mid-single-digit growth in assets under management from net inflows, market appreciation, low to mid-teens revenue growth in technology services, modest margin expansion, and share repurchases.”
