Miracle Mile Advisors LLC Has $473,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Miracle Mile Advisors LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 5.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 568 shares of the asset manager’s stock after buying an additional 29 shares during the period. Miracle Mile Advisors LLC’s holdings in BlackRock were worth $473,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BLK. Abacus Planning Group Inc. raised its holdings in shares of BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares during the last quarter. Knuff & Co LLC raised its holdings in shares of BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 13 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in shares of BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 14 shares during the last quarter. Spreng Capital Management Inc. raised its holdings in shares of BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after purchasing an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd raised its holdings in shares of BlackRock by 3.6% in the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after purchasing an additional 14 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at BlackRock

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

BlackRock Trading Down 0.6 %

Shares of BlackRock stock opened at $782.27 on Tuesday. The firm has a 50-day moving average of $779.33 and a 200-day moving average of $793.03. The stock has a market cap of $116.25 billion, a PE ratio of 19.88, a PEG ratio of 1.63 and a beta of 1.32. 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 quick ratio of 5.32 and a current ratio of 5.32.

BlackRock (NYSE:BLK) last announced 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. The company 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%. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is presently 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.