MML Investors Services LLC Buys 3,241 Shares of BlackRock $BLK

MML Investors Services LLC raised its stake in BlackRock (NYSE:BLK) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,458 shares of the asset manager’s stock after purchasing an additional 3,241 shares during the period. MML Investors Services LLC’s holdings in BlackRock were worth $77,555,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BLK. Evolution Wealth Management Inc. bought a new stake in BlackRock in the 4th quarter valued at $26,000. Birchbrook Inc. bought a new stake in BlackRock in the 4th quarter valued at $31,000. LFA Lugano Financial Advisors SA bought a new stake in BlackRock in the 4th quarter valued at $32,000. Basepoint Wealth LLC bought a new stake in BlackRock in the 4th quarter valued at $32,000. Finally, Swiss RE Ltd. bought a new stake in BlackRock in the 4th quarter valued at $33,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BLK shares. TD Cowen reduced their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Evercore reduced their price target on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a report on Monday, June 8th. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Barclays increased their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group increased their price target on shares of BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,264.61.

BlackRock Price Performance

NYSE:BLK opened at $1,031.45 on Monday. The company has a 50-day moving average of $1,039.86 and a 200-day moving average of $1,051.60. The company has a market capitalization of $160.12 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.34 and a beta of 1.42. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm earned $9.64 EPS. As a group, equities research analysts anticipate that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is presently 57.53%.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Negative Sentiment: BlackRock’s private-credit funds saw redemption requests far above the cap, and the firm is again limiting withdrawals, which could weigh on sentiment around its alternatives business. Reuters article
• Negative Sentiment: Bloomberg and other reports said BlackRock’s HPS/HLEND private-credit vehicles capped redemptions after investors sought to withdraw more than 5%, underscoring continued pressure in the funds. Bloomberg article
• Neutral Sentiment: BlackRock also reported buying additional Bitcoin and Ethereum holdings, and it is preparing an income-focused Bitcoin ETF, highlighting continued growth in its digital-asset franchise. Finbold article
• Neutral Sentiment: Reports that BlackRock may seek about $5 billion of SpaceX IPO shares point to strong client demand and product breadth, but this is not as immediate a driver as the redemption headlines. Reuters article

Insider Transactions at BlackRock

In related news, President Robert Kapito sold 8,739 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the completion of the sale, the president owned 210,186 shares in the company, valued at $222,082,527.60. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the sale, the chief executive officer owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by company insiders.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.