MML Investors Services LLC Increases Stake in BlackRock, Inc.

MML Investors Services LLC has recently increased its investment in BlackRock, Inc. (NYSE:BLK - Free Report) by 2.8% during the third quarter, according to a filing with the SEC. After acquiring an additional 1,852 shares, MML now holds a total of 68,466 shares in the asset management company. In terms of monetary value, these shares are worth approximately $65,010,000 at the end of this quarter.

Recent Institutional Investments

Other institutional investors and hedge funds have also made adjustments to their positions in BlackRock. For instance, Dunhill Financial LLC raised its stake by 221.2% during the same quarter, bringing its total to 106 shares valued at $101,000 after acquiring an additional 73 shares. Additionally, Tenere Capital LLC entered a new investment position in BlackRock valued at around $14,419,000. Meanwhile, Zacks Investment Management increased its holdings by 4.0%, owning 143,663 shares worth $136,409,000 following an additional purchase of 5,545 shares. Kovitz Investment Group Partners LLC also saw a 39.5% increase, now owning 21,633 shares valued at $20,541,000. Wellington Management Group LLP augmented its position by 7.4%, resulting in ownership of 373,505 shares with a value of $354,647,000. In total, institutional investors and hedge funds now possess 80.69% of BlackRock's stock.

Current Stock Performance

The stock of BlackRock was trading at $1,042.87 as of Friday. The company exhibits a debt-to-equity ratio of 0.37, alongside a current ratio and quick ratio of 5.06. BlackRock’s stock has shown a 50-day simple moving average of $1,004.44 and a 200-day simple moving average of $896.26. The shares have fluctuated, with a 12-month low of $742.22 and a high of $1,068.34. Presently, BlackRock has a market capitalization of $161.52 billion, with a price-to-earnings (P/E) ratio of 25.74 and a price/earnings to growth (P/E/G) ratio of 1.80.

Quarterly Earnings Highlights

BlackRock last announced its quarterly earnings on October 11th, revealing earnings per share (EPS) of $11.46. This figure surpassed the consensus estimate of $10.42 by $1.04. The company reported quarterly revenue of $5.20 billion, exceeding the expected $5.03 billion. BlackRock enjoyed a net margin of 31.37% and a return on equity of 15.52%. Compared to the same quarter in the previous year, the current revenue reflects an increase of 14.9%.

Dividend Announcement

Recently, BlackRock announced a quarterly dividend, set to be disbursed on December 23rd. Shareholders of record on December 5th will receive a dividend of $5.10 per share. This translates to an annualized dividend of $20.40, resulting in a yield of 1.96%. The ex-dividend date is also December 5th. The company’s current dividend payout ratio stands at 50.35%.

Analysts Ratings Overview

Insider Trading Activity

In related news, BlackRock's General Counsel Christopher J. Meade sold 18,000 shares on December 6th for $1,045.83 per share, totaling approximately $18.8 million. This sale reduced his holdings by 67.60%, leaving him with 8,628 shares valued at roughly $9.02 million. Meanwhile, Director Mark Wiedman sold 36,190 shares on the same day at an average price of $1,045.90, amounting to $37.85 million in total. His ownership decreased by 84.81%, as he now directly holds 6,480 shares worth around $6.78 million. Insiders have sold a total of 108,190 shares valued at $113.16 million in the last quarter, and insiders collectively own 0.90% of BlackRock's stock.

Company Overview

BlackRock, Inc. operates as a publicly owned investment manager. The firm caters primarily to institutional, intermediary, and individual investors, which include pension plans, insurance companies, endowments, and governmental entities.

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