MML Investors Services LLC Increases Stake in BlackRock, Inc.

MML Investors Services LLC has enhanced its investment in BlackRock, Inc. (NYSE:BLK) by 2.8% during the third quarter, as reported in their latest filing with the SEC. Following the acquisition of an additional 1,852 shares, the institutional investor now holds a total of 68,466 shares of BlackRock's stock. The value of MML Investors Services LLC's holdings in BlackRock stands at approximately $65,010,000 at the close of the most recent quarter.

Other Institutional Investments

In addition to MML Investors Services LLC, other institutional investors and hedge funds have recently adjusted their stakes in BlackRock. For instance, Dunhill Financial LLC increased its position by a significant 221.2% during the third quarter, bringing its total to 106 shares worth $101,000 after acquiring 73 additional shares. Tenere Capital LLC also entered a new investment in BlackRock, valued at roughly $14,419,000 during the same period. Furthermore, Zacks Investment Management upped its stake by 4.0%, owning now 143,663 shares valued at $136,409,000 after buying 5,545 more shares. Kovitz Investment Group Partners LLC increased its holdings by 39.5%, owning 21,633 shares worth $20,541,000 after acquiring an additional 6,127 shares. Wellington Management Group LLP lifted its investment in BlackRock by 7.4%, now holding 373,505 shares valued at $354,647,000 after purchasing 25,755 shares. Overall, institutional investors and hedge funds collectively own about 80.69% of BlackRock's stock.

Current Stock Performance

As of the last trading session, BlackRock's stock opened at $1,042.87. The asset management company has a debt-to-equity ratio of 0.37, a current ratio of 5.06, and a quick ratio also of 5.06. Its 50-day simple moving average stands at $1,004.44, while the 200-day simple moving average is $896.26. Over the past year, BlackRock's share price has fluctuated, with a low of $742.22 and a high of $1,068.34. The firm's market capitalization is currently $161.52 billion, with a price-to-earnings (PE) ratio of 25.74, a P/E/G ratio of 1.80, and a beta value of 1.28.

Recent Earnings Report

BlackRock disclosed its quarterly earnings on October 11th, where it reported earnings per share (EPS) of $11.46 for the quarter, surpassing analyst expectations of $10.42 by $1.04. The company generated revenue of $5.20 billion, compared to the anticipated $5.03 billion, indicating a net margin of 31.37% and a return on equity of 15.52%. Year over year, the revenue increased by 14.9%, up from $10.91 EPS recorded during the same quarter last year. Analysts predict BlackRock will post an EPS of 43.18 for the current fiscal year.

Dividend Declaration

Moreover, BlackRock recently declared a quarterly dividend of $5.10 per share, which will be distributed on December 23rd to investors on record by December 5th. This dividend equates to an annualized payout of $20.40 and represents a yield of 1.96%. The ex-dividend date is set for December 5th, with the company's current dividend payout ratio (DPR) at 50.35%.

Analyst Ratings and Price Target Updates

A number of brokerage firms have issued updates regarding BlackRock's stock. StockNews.com initiated coverage and rated it as a 'hold'. Evercore ISI raised their price target for BlackRock from $1,040.00 to $1,160.00, endorsing it as an 'outperform'. Deutsche Bank also increased its target from $1,105.00 to $1,133.00, rating it a 'buy'. Similarly, JPMorgan Chase & Co. adjusted their price target from $864.00 to $914.00 with a 'neutral' rating, while Goldman Sachs raised their target from $960.00 to $1,040.00 also rating it as a 'buy'. Currently, three analysts have a 'hold' rating, but eleven analysts favor the stock with 'buy' ratings, leading to an average rating of 'Moderate Buy' and a consensus price target of $1,019.62.

Insider Transactions

In other news, General Counsel Christopher J. Meade executed a sale of 18,000 shares at an average price of $1,045.83, totaling approximately $18,824,940. Upon completion of the transaction, Meade retained about 8,628 shares in the company valued at approximately $9,023,421. Additionally, Director Mark Wiedman sold 36,190 shares averaging $1,045.90, for a total of $37,851,121. Following this sale, he owns directly 6,480 shares valued at $6,777,432. Collectively, insiders have sold 108,190 shares of BlackRock stock worth approximately $113,161,681 in the past quarter, with insiders holding a combined ownership of 0.90% of the company’s shares.

Company Overview

BlackRock, Inc. is a publicly traded investment management firm that offers its services primarily to various entities including institutional, intermediary, and individual investors. Its clients consist of corporate, public, and union pension plans, insurance firms, mutual funds, endowments, charities, sovereign wealth funds, and other official institutions.

BlackRock, Investment, Finance