MML Investors Services LLC Increases Stake in BlackRock, Inc.

MML Investors Services LLC has raised its holdings in BlackRock, Inc. (NYSE:BLK) by 2.8% during the third quarter, as noted in its latest filing with the SEC. After acquiring an additional 1,852 shares, MML now owns a total of 68,466 shares of BlackRock’s stock, which were valued at approximately $65,010,000 at the close of the most recent quarter.

Significant Institutional Movements

Other institutional investors and hedge funds have also made changes to their positions in BlackRock recently. Dunhill Financial LLC significantly increased its stake in BlackRock by 221.2% during the third quarter, bringing its total share count to 106, with a value of about $101,000 after buying 73 more shares. Meanwhile, Tenere Capital LLC established a new position in the asset manager, investing roughly $14,419,000. Zacks Investment Management also raised its position by 4.0%, owning 143,663 shares valued at $136,409,000 after purchasing an additional 5,545 shares in the last quarter. Kovitz Investment Group Partners LLC enhanced its holdings by 39.5%, acquiring 6,127 more shares to reach a total of 21,633 shares valued at $20,541,000. Additionally, Wellington Management Group LLP improved its standing in BlackRock by 7.4%, resulting in a total of 373,505 shares estimated at $354,647,000. Notably, institutional investors and hedge funds now hold 80.69% of the company’s stock.

Current Stock Performance

As for BlackRock’s stock performance, it opened at $1,042.87 recently, reflecting a 0.2% decline. The asset management firm maintains a debt-to-equity ratio of 0.37, a current ratio of 5.06, and a quick ratio also at 5.06. Its 50-day simple moving average stands at $1,004.44, while the 200-day moving average is $896.26. Over the past twelve months, BlackRock's stock has reached a low of $742.22 and a high of $1,068.34. The company boasts a market capitalization of $161.52 billion, a price-to-earnings (P/E) ratio of 25.74, a P/E/G ratio of 1.80, and a beta of 1.28.

Quarterly Earnings and Dividend Announcements

BlackRock recently reported its quarterly earnings on October 11, revealing earnings per share (EPS) of $11.46 for the quarter, surpassing the consensus estimate of $10.42 by $1.04. The company generated $5.20 billion in revenue, exceeding expectations of $5.03 billion, and displayed a net margin of 31.37% with a return on equity of 15.52%. Revenue for the quarter increased 14.9% compared to the same period last year. Analysts predict that BlackRock will achieve an EPS of 43.18 for the current fiscal year. Furthermore, BlackRock announced a quarterly dividend of $5.10 per share, set to be paid on December 23. This results in an annualized dividend of $20.40, offering a yield of 1.96%. The company’s dividend payout ratio (DPR) is currently 50.35%.

Analyst Ratings Updates

Recent analyst reports reflect varied perspectives on BlackRock. StockNews.com has commenced coverage with a "hold" rating. Meanwhile, Evercore ISI increased its price target from $1,040.00 to $1,160.00, assigning an "outperform" rating. Deutsche Bank also raised its target price from $1,105.00 to $1,133.00 and rated the stock as "buy." Additionally, JPMorgan Chase & Co. raised its price target to $914.00, maintaining a "neutral" rating. Goldman Sachs also upgraded their price objective to $1,040.00, labeling BlackRock a "buy". Currently, three equities research analysts have issued a hold rating, while eleven analysts recommend buying the stock, with an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

Insider Transactions

In insider news, Christopher J. Meade, the General Counsel, sold 18,000 shares on December 6 at an average price of $1,045.83, totaling approximately $18.8 million. Following this transaction, Meade holds 8,628 shares valued at around $9 million, indicating a 67.60% reduction in his ownership. Additionally, Director Mark Wiedman sold 36,190 shares on the same day, accumulating about $37.85 million. After the sale, Wiedman directly owns 6,480 shares worth approximately $6.78 million, marking an 84.81% decrease in his stake. In total, over the last quarter, insiders have sold 108,190 shares for about $113.16 million, culminating in insiders owning just 0.90% of the company's stock.

Overview of BlackRock

BlackRock, Inc. operates as a publicly traded investment management firm. It provides various services to institutional, intermediary, and individual investors, including pension plans, insurance companies, mutual funds, governments, and corporations.

BlackRock, investment, stocks