BlackRock, a prominent financial services company, has seen its stock (NYSE: BLK) gain approximately 4% year-to-date, contrasting with the 17% rise in the S&P 500 index over the same period. In comparison, BlackRock's peer, State Street's stock (NYSE: STT), has experienced a 10% increase year-to-date.
Currently trading at $845 per share, BLK stock is estimated to be undervalued by 10% at its fair value of $938 according to Trefis. Despite a 15% increase from early January 2021, the stock's performance has been inconsistent, with returns of 27% in 2021, -23% in 2022, and 15% in 2023.
