BlackRock, Inc. (NYSE:BLK) Shares Sold by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 21.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,907 shares of the asset manager’s stock after selling 781 shares during the period. BlackRock accounts for approximately 1.1% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 29th largest position. Brown Miller Wealth Management LLC’s holdings in BlackRock were worth $2,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock during the fourth quarter worth $27,000. Private Wealth Management Group LLC acquired a new position in shares of BlackRock during the fourth quarter worth $28,000. Pineridge Advisors LLC acquired a new position in shares of BlackRock during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA grew its stake in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in BlackRock in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BLK shares. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $6.19 on Friday, reaching $787.32. The company’s stock had a trading volume of 769,459 shares, compared to its average volume of 564,991. The stock’s 50-day moving average is $779.33 and its two-hundred day moving average is $792.90. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The stock has a market capitalization of $117.00 billion, a P/E ratio of 20.01, a PEG ratio of 1.63 and a beta of 1.34.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.93 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.59%. BlackRock’s dividend payout ratio is currently 51.84%.

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.