Brown Miller Wealth Management LLC Purchases 196 Shares of BlackRock, Inc. (NYSE:BLK)

Brown Miller Wealth Management LLC increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,158 shares of the asset manager’s stock after buying an additional 196 shares during the period. BlackRock accounts for about 1.2% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Brown Miller Wealth Management LLC’s holdings in BlackRock were worth $3,238,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Fidelity D & D Bancorp Inc. boosted its holdings in shares of BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after buying an additional 10 shares during the period. Princeton Global Asset Management LLC raised its stake in BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after purchasing an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in BlackRock by 0.8% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after purchasing an additional 10 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after purchasing an additional 10 shares in the last quarter. Finally, Studio Investment Management LLC raised its stake in BlackRock by 0.4% in the 3rd quarter. Studio Investment Management LLC now owns 3,076 shares of the asset manager’s stock worth $2,921,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 1.1 %

Shares of NYSE BLK opened at $900.50 on Friday. The firm has a market cap of $139.81 billion, a PE ratio of 21.44, a P/E/G ratio of 1.90 and a beta of 1.29. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The company’s fifty day simple moving average is $985.45 and its 200 day simple moving average is $985.29. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company posted $9.66 earnings per share. The business’s revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.31%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is presently 49.62%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the transaction, the director now owns 3,720 shares in the company, valued at $3,531,656.40. This trade represents a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BLK. StockNews.com started coverage on shares of BlackRock in a research note on Thursday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays dropped their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Citigroup boosted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

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.