MML Investors Services LLC Increases Stake in BlackRock, Inc.

MML Investors Services LLC has increased its investment in BlackRock, Inc. (NYSE:BLK) by 2.8% during the third quarter, based on its latest filing with the Securities and Exchange Commission (SEC). Following this move, MML Investors now holds 68,466 shares of the major asset management company after acquiring an additional 1,852 shares during this period. At the end of the last quarter, these holdings were valued at approximately $65 million.

Institutional Investor Activity

Many other institutional investors and hedge funds have also either increased or reduced their stakes in BlackRock recently. Notably, Dunhill Financial LLC significantly raised its position by 221.2% during the same quarter, now owning 106 shares valued at around $101,000 after adding 73 shares. Additionally, Tenere Capital LLC initiated a new stake in BlackRock during the third quarter, valued at around $14.4 million. Zacks Investment Management grew its holdings by 4.0%, now possessing 143,663 shares worth about $136.4 million after purchasing an additional 5,545 shares. Similarly, Kovitz Investment Group Partners boosted its stake by 39.5%, acquiring 6,127 additional shares, bringing their total to 21,633 shares valued at roughly $20.5 million. Wellington Management Group LLP also increased its position by 7.4%, now holding 373,505 shares worth approximately $354.6 million. In total, institutional investors and hedge funds own around 80.69% of BlackRock's shares.

Recent Stock Performance

As of Friday, BlackRock's stock opened at $1,042.87. The firm maintains a debt-to-equity ratio of 0.37 and a current ratio of 5.06. The stock's 50-day simple moving average is $1,004.44, while its 200-day simple moving average stands at $896.26. In the past year, the company has seen a low of $742.22 and a high of $1,068.34, with a market capitalization of about $161.5 billion. BlackRock’s price-to-earnings (PE) ratio is recorded at 25.74 and a P/E/G ratio of 1.80, indicating its growth potential in comparison to earnings.

Quarterly Earnings Report

On October 11, BlackRock released its quarterly earnings data, reporting earnings per share (EPS) of $11.46, which exceeded the expected consensus estimate of $10.42 by $1.04. The company posted revenue of $5.20 billion for the quarter, surpassing forecasts of $5.03 billion. BlackRock achieved a net margin of 31.37% and a return on equity of 15.52%. Comparing year-on-year performance, quarterly revenue was up by 14.9%, reflecting a robust business growth trend.

Dividend Announcement

Recently, BlackRock also declared a quarterly dividend scheduled for payment on December 23. Shareholders on record as of December 5 will receive a dividend of $5.10 per share, translating to an annualized dividend of $20.40 and a yield of 1.96%. The ex-dividend date is set for December 5, and the company’s dividend payout ratio currently stands at 50.35%.

Analyst Ratings and Projections

Several brokerage firms have analyzed BlackRock, with StockNews.com recently beginning coverage with a "hold" rating. Evercore ISI revised its price target for BlackRock stock from $1,040.00 to $1,160.00 while recommending an "outperform" rating. Deutsche Bank also increased its target price from $1,105.00 to $1,133.00, with a "buy" rating. JPMorgan Chase adjusted its target from $864.00 to $914.00,” rating the stock as "neutral". The Goldman Sachs Group has upgraded its price projection from $960.00 to $1,040.00 while giving it a “buy” rating. Overall, analysis from MarketBeat indicates that three analysts hold a "hold" rating, while eleven recommend buying the stock, leading to an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

Insider Transactions

Recent insider activity includes General Counsel Christopher J. Meade selling 18,000 shares on December 6, at an average price of $1,045.83, amounting to a total of $18.8 million. Following this sale, Meade now holds 8,628 shares valued at about $9.02 million. In another transaction, Director Mark Wiedman sold 36,190 shares on the same day at an average price of $1,045.90, totaling around $37.9 million. Post-sale, Wiedman retains 6,480 shares valued at $6.78 million. In recent months, insiders have sold 108,190 shares of BlackRock stock, totaling over $113 million. Company insiders currently hold around 0.90% of all BlackRock shares.

Overview of BlackRock

BlackRock, Inc. is a publicly traded investment management firm that offers its services primarily to a diverse range of clients, including institutional investors, intermediaries, and individual investors. Its clientele includes corporate, public, union, and industry pension plans, insurance companies, mutual funds, endowments, public institutions, foundations, charities, sovereign wealth funds, and banks.

BlackRock, Investment, Shares