MML Investors Services LLC Increases Stake in BlackRock, Inc.

MML Investors Services LLC has enhanced its stake in BlackRock, Inc. (NYSE:BLK) by 2.8% during the third quarter, according to a recent filing with the SEC. Following this increase, the institutional investor now holds 68,466 shares of the asset management firm's stock, having acquired an additional 1,852 shares during the quarter. The value of MML Investors Services LLC's holdings in BlackRock is approximately $65,010,000 as of the end of the latest quarter.

Institutional Investors Involvement

Several other institutional investors and hedge funds have also adjusted their positions in BlackRock recently. Dunhill Financial LLC saw a substantial increase, boosting its stake by 221.2% in the third quarter; it now owns 106 shares valued at $101,000 after buying 73 more shares. Tenere Capital LLC established a new position in BlackRock worth around $14,419,000 during the same period. Zacks Investment Management increased its position by 4.0%, resulting in ownership of 143,663 shares worth $136,409,000 after acquiring an additional 5,545 shares. Additionally, Kovitz Investment Group Partners LLC raised its stake by 39.5%, acquiring 6,127 more shares, bringing its total to 21,633 shares valued at $20,541,000. Wellington Management Group LLP also boosted its holding by 7.4%, ending up with 373,505 shares worth approximately $354,647,000. Notably, institutional investors and hedge funds already own 80.69% of BlackRock's stock.

BlackRock Stock Performance

As for BlackRock's stock, it opened at $1,042.87. The company maintains a debt-to-equity ratio of 0.37, with a current ratio and quick ratio both standing at 5.06. The stock's 50-day simple moving average is $1,004.44, while the 200-day simple moving average is $896.26. The shares have traded within a 12-month range, recording a low of $742.22 and a high of $1,068.34. BlackRock currently has a market capitalization of $161.52 billion, a price-to-earnings (PE) ratio of 25.74, and a PEG ratio of 1.80, indicating some growth potential as reflected by a beta of 1.28.

BlackRock's Recent Earnings and Dividends

On October 11, BlackRock reported its quarterly earnings, announcing an earnings per share (EPS) of $11.46, which exceeded analysts' expectations of $10.42. The firm generated revenue of $5.20 billion, surpassing the projected $5.03 billion. With a net margin of 31.37% and a return on equity of 15.52%, BlackRock's quarterly revenue exhibited a year-over-year increase of 14.9%. The firm's EPS for the same quarter in the previous year was $10.91, and analysts anticipate an EPS of 43.18 for the current fiscal year. Furthermore, BlackRock recently declared a quarterly dividend of $5.10 per share, which will be paid on December 23, with a record date set for December 5. This dividend translates into an annualized payment of $20.40 per share, yielding 1.96%. The dividend payout ratio currently stands at 50.35%.

Analyst Ratings

Several brokerages have updated their ratings for BlackRock. StockNews.com began its coverage and issued a 'hold' rating. Evercore ISI raised its price target from $1,040.00 to $1,160.00, rating the stock as 'outperform.' Deutsche Bank also adjusted its target price from $1,105.00 to $1,133.00, assigning a 'buy' rating. Meanwhile, JPMorgan Chase & Co. lowered its target from $864.00 to $914.00, maintaining a 'neutral' stance. Goldman Sachs increased its target price from $960.00 to $1,040.00 and rated BlackRock as a 'buy.' Among analysts, three have recommended holding the stock, while eleven advocated for buying it, resulting in an average rating of 'Moderate Buy' with a target price of $1,019.62.

Insider Transactions

In insider trading news, BlackRock’s General Counsel, Christopher J. Meade, sold 18,000 shares on December 6 at an average price of $1,045.83, totaling approximately $18.82 million. Following this transaction, he holds 8,628 shares valued at about $9.02 million, reflecting a 67.60% reduction in his ownership. Director Mark Wiedman also sold 36,190 shares on the same day, with total proceeds of around $37.85 million. After this sale, he retains 6,480 shares valued at $6.78 million, an 84.81% drop in his stake. In total, insiders have sold 108,190 shares of BlackRock stock worth approximately $113.16 million over the last quarter, with insiders currently occupying 0.90% of the company's shares.

Company Overview

BlackRock, Inc. is a publicly traded investment management firm. It primarily serves a variety of clients, including institutional and individual investors. Its clientele comprises corporate pension plans, public retirement systems, insurance companies, mutual funds, endowments, foundations, governments, banks, and other financial institutions.

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