Posted 10/13/2023, 3:57:00 PM
BlackRock Profits Up But Slowing Inflows Spark M&A Interest
- BlackRock's Q3 profit beat estimates but net inflows dropped sharply, signaling more M&A hunger
- Drop in inflows weighed on shares despite profit beat; CEO says engaged in more deals talks
- BlackRock AUM rose to $9.1 trillion but below Q2; fees rose but equity outflows hit inflows
- Investors waiting for yields to peak before reallocating portfolios, muting organic fee growth
- Succession plan unclear with CEO saying has more energy, no retirement plans
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