Brown Miller Wealth Management LLC Has $2.42 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Brown Miller Wealth Management LLC lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 21.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,907 shares of the asset manager’s stock after selling 781 shares during the quarter. BlackRock accounts for about 1.1% of Brown Miller Wealth Management LLC’s holdings, 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 reporting period.

Other large investors have also made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new position in BlackRock in the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new position in BlackRock in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA increased its stake in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the period. Finally, Northwest Financial Advisors acquired a new position in BlackRock in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK traded up $6.19 during midday trading on Friday, reaching $787.32. The stock had a trading volume of 769,459 shares, compared to its average volume of 564,991. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The firm’s fifty day simple moving average is $779.33 and its 200-day simple moving average is $792.90. 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 earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the business posted $7.93 EPS. BlackRock’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on 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 sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on 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 sale, 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 company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. 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. Keefe, Bruyette & Woods reiterated 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. Finally, JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $845.42.

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.