MML Investors Services LLC Increases Stake in BlackRock, Inc.

MML Investors Services LLC has increased its stake in BlackRock, Inc. (NYSE:BLK) by 2.8% during the third quarter, as indicated by its latest filing with the SEC. Following the purchase of an additional 1,852 shares, the institutional investor now holds 68,466 shares of the asset manager's stock. At the end of the most recent quarter, MML Investors Services LLC's total holdings in BlackRock were valued at $65,010,000.

Recent Investor Activity

Other institutional investors and hedge funds have also recently modified their positions in BlackRock. For instance, Dunhill Financial LLC significantly boosted its holdings in BlackRock by 221.2% in the third quarter, now owning 106 shares worth $101,000 after acquiring 73 additional shares. Meanwhile, Tenere Capital LLC established a new position in BlackRock worth approximately $14,419,000 during the same period. Zacks Investment Management raised its stake by 4.0%, now owning 143,663 shares valued at $136,409,000 following the purchase of 5,545 shares. Kovitz Investment Group Partners LLC increased its holdings by 39.5% during the third quarter, owning 21,633 shares worth $20,541,000 after buying an extra 6,127 shares. Wellington Management Group LLP also lifted its position by 7.4% and now holds 373,505 shares valued at $354,647,000 after adding 25,755 shares. Overall, institutional investors and hedge funds own approximately 80.69% of BlackRock's shares.

BlackRock Stock Performance

As of Friday, BlackRock (NYSE:BLK) shares opened at $1,042.87. The company’s debt-to-equity ratio is 0.37, with a current ratio and quick ratio both at 5.06. The 50-day and 200-day simple moving averages are $1,004.44 and $896.26, respectively. BlackRock has experienced a 12-month low of $742.22 and a high of $1,068.34. With a market capitalization of $161.52 billion, it has a price-to-earnings (P/E) ratio of 25.74 and a P/E/G ratio of 1.80, along with a beta of 1.28.

Earnings Update

BlackRock announced its latest quarterly earnings data on October 11th. The asset manager reported earnings of $11.46 per share, surpassing the consensus estimate of $10.42 by $1.04. The total revenue for the quarter was $5.20 billion, also above the expected $5.03 billion. BlackRock achieved a net margin of 31.37% and a return on equity of 15.52%. The company’s quarterly revenue increased by 14.9% compared to the same quarter last year, up from $10.91 earnings per share in the same period last year. Analysts predict that BlackRock will report earnings of $43.18 per share for the current fiscal year.

Dividend Payout Information

In addition to its performance, BlackRock announced a quarterly dividend, which will be disbursed on December 23rd. Shareholders on record by December 5th will receive a dividend of $5.10 per share. This translates to an annualized dividend of $20.40, resulting in a yield of 1.96%. The ex-dividend date is set for December 5th, and BlackRock's current dividend payout ratio stands at 50.35%.

Broker Ratings and Changes

Recent brokerages have provided updated analyses of BlackRock stock. StockNews.com initiated coverage on the stock with a "hold" rating. Evercore ISI raised its price target for BlackRock from $1,040.00 to $1,160.00, rating the stock as "outperform." Deutsche Bank increased its target price from $1,105.00 to $1,133.00, also giving it a "buy" rating. JPMorgan Chase raised its price target from $864.00 to $914.00 with a "neutral" rating. Furthermore, Goldman Sachs raised its price target from $960.00 to $1,040.00, rating BlackRock as a "buy." There are currently three analysts rating the stock as a hold and eleven recommending a buy. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

Insider Transactions

In other news, insider trading has been noted at BlackRock. On December 6th, General Counsel Christopher J. Meade sold 18,000 shares at an average price of $1,045.83, totaling around $18,824,940. Following this sale, he owns 8,628 shares valued at roughly $9,023,421. Additionally, Director Mark Wiedman sold 36,190 shares on the same day at an average price of $1,045.90, amounting to approximately $37,851,121. This left him with 6,480 shares valued at $6,777,432. The SEC filings disclose that insiders sold 108,190 shares of BlackRock worth $113,161,681 over the previous quarter, with company insiders currently holding 0.90% of shares.

Company Overview

BlackRock, Inc. is a publicly traded investment management firm, mainly servicing institutional, intermediary, and individual clients. These include pension plans, insurance firms, mutual funds, endowments, public institutions, governments, sovereign wealth funds, and corporations.

investment, stock, finance