Miracle Mile Advisors LLC Lowers Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Miracle Mile Advisors LLC lowered its holdings in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 46.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 539 shares of the asset manager’s stock after selling 465 shares during the quarter. Miracle Mile Advisors LLC’s holdings in BlackRock were worth $438,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. West Tower Group LLC purchased a new position in BlackRock during the second quarter worth approximately $27,000. Tyler Stone Wealth Management purchased a new position in shares of BlackRock in the second quarter valued at approximately $33,000. FSC Wealth Advisors LLC purchased a new position in shares of BlackRock in the fourth quarter valued at approximately $40,000. Exchange Traded Concepts LLC lifted its position in shares of BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 47 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of BlackRock in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BLK shares. BNP Paribas upgraded BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price on the stock in a research report on Tuesday, December 12th. UBS Group raised their target price on BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $789.67.

View Our Latest Research Report on BlackRock

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock worth $71,864,028 over the last ninety days. Company insiders own 1.06% of the company’s stock.

BlackRock Price Performance

BLK stock opened at $816.59 on Wednesday. The business has a fifty day moving average of $807.15 and a two-hundred day moving average of $745.77. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market cap of $121.62 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $0.82. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $8.93 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 39.81 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were paid a dividend of $5.10 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $20.40 annualized dividend and a yield of 2.50%. BlackRock’s dividend payout ratio (DPR) is 55.88%.

BlackRock Company Profile

(Free Report)

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

See Also

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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