MML Investors Services LLC cut its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 9.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 46,139 shares of the asset manager’s stock after selling 4,852 shares during the period. MML Investors Services LLC’s holdings in BlackRock were worth $30,872,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Steward Financial Group LLC acquired a new position in shares of BlackRock in the fourth quarter worth approximately $31,000. Tyler Stone Wealth Management boosted its position in BlackRock by 71.4% during the fourth quarter. Tyler Stone Wealth Management now owns 48 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 20 shares during the last quarter. Centerpoint Advisors LLC bought a new position in shares of BlackRock in the 1st quarter worth about $34,000. Sittner & Nelson LLC lifted its stake in shares of BlackRock by 48.6% in the 1st quarter. Sittner & Nelson LLC now owns 52 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Finally, Barrett & Company Inc. acquired a new stake in BlackRock during the first quarter worth approximately $38,000. 77.01% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at BlackRock
In other BlackRock news, Director Mark Wiedman sold 2,079 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total value of $1,525,611.78. Following the completion of the sale, the director now owns 6,160 shares of the company’s stock, valued at $4,520,331.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other BlackRock news, CEO Laurence Fink sold 20,200 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the transaction, the chief executive officer now directly owns 464,125 shares of the company’s stock, valued at approximately $344,399,315. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 2,079 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total transaction of $1,525,611.78. Following the completion of the sale, the director now directly owns 6,160 shares of the company’s stock, valued at $4,520,331.20. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.
BlackRock Price Performance
NYSE BLK traded down $3.56 on Wednesday, hitting $692.37. The stock had a trading volume of 91,604 shares, compared to its average volume of 631,132. The firm has a 50-day moving average of $705.35 and a 200-day moving average of $680.96. The company has a market capitalization of $103.37 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.98 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.21 and a current ratio of 4.21. BlackRock, Inc. has a 52-week low of $503.12 and a 52-week high of $785.65.
BlackRock (NYSE:BLK – Get Free Report) last announced its earnings results on Friday, July 14th. The asset manager reported $9.28 earnings per share for the quarter, topping analysts’ consensus estimates of $8.52 by $0.76. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. BlackRock had a return on equity of 14.29% and a net margin of 29.90%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.36 EPS. Equities analysts expect that BlackRock, Inc. will post 35.48 EPS for the current year.
BlackRock Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $5.00 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $20.00 dividend on an annualized basis and a yield of 2.89%. BlackRock’s dividend payout ratio is presently 58.41%.
Wall Street Analysts Forecast Growth
BLK has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $780.00 to $785.00 in a report on Monday, July 17th. Morgan Stanley upped their price objective on shares of BlackRock from $881.00 to $888.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Wells Fargo & Company boosted their target price on BlackRock from $780.00 to $820.00 in a research report on Monday, July 17th. JPMorgan Chase & Co. cut their price target on BlackRock from $780.00 to $770.00 and set an “overweight” rating on the stock in a report on Monday, July 3rd. Finally, StockNews.com began coverage on shares of BlackRock in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $767.69.
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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