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Long-term inflows of $1.5B were way off Jefferies' Daniel Fannon's $24B estimate. This was mostly due to actively managed fixed-income funds, which saw a draw of $5B vs. his prediction of $10B of inflows. He keeps his Hold rating and $357 price target.
- Calling Q2 flows "tepid," Citi's William Katz says BlackRock normally sets a very high bar for peers, but not this quarter. He does note the company took market share in ETFs, including Smart Beta (iShares inflows were $15B). He maintains his Buy rating and $400 price target.
- It was a "difficult quarter," says UBS's Brennan Hawken, but he advises buying on any weakness. He's got a Buy rating and $415 price target.
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BLK -0.1% today.
- Previously: BlackRock income falls as active money turns passive (July 14)