Brown Miller Wealth Management LLC Raises Position in BlackRock, Inc. (NYSE:BLK)

Brown Miller Wealth Management LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,962 shares of the asset manager’s stock after buying an additional 30 shares during the period. BlackRock comprises about 1.1% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Brown Miller Wealth Management LLC’s holdings in BlackRock were worth $2,813,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its stake in BlackRock by 0.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 77,052 shares of the asset manager’s stock worth $62,551,000 after acquiring an additional 647 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in shares of BlackRock during the 4th quarter valued at about $31,637,000. Burford Brothers Inc. acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $638,000. FIL Ltd raised its stake in shares of BlackRock by 5.3% during the fourth quarter. FIL Ltd now owns 840,453 shares of the asset manager’s stock valued at $682,280,000 after purchasing an additional 42,347 shares during the period. Finally, Quarry LP acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $50,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK stock traded up $34.67 during trading hours on Friday, reaching $990.26. The stock had a trading volume of 927,686 shares, compared to its average volume of 576,480. The firm has a market capitalization of $147.15 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a 50-day simple moving average of $899.39 and a 200-day simple moving average of $831.29. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $996.29.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Wall Street Analyst Weigh In

BLK has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Argus increased their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com assumed coverage on BlackRock in a report on Saturday. They issued a “hold” rating for the company. Finally, Evercore ISI boosted their price objective on BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $972.23.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. Company insiders own 0.90% of the company’s stock.

BlackRock Company Profile

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.