Miracle Mile Advisors LLC Has $536,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Miracle Mile Advisors LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 565 shares of the asset manager’s stock after buying an additional 38 shares during the quarter. Miracle Mile Advisors LLC’s holdings in BlackRock were worth $536,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at $27,000. Pineridge Advisors LLC bought a new stake in BlackRock during the fourth quarter worth about $28,000. Fairscale Capital LLC bought a new position in shares of BlackRock in the second quarter valued at approximately $31,000. Lam Group Inc. acquired a new position in shares of BlackRock in the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new stake in BlackRock during the 4th quarter worth approximately $35,000. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Argus increased their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. StockNews.com initiated coverage on shares of BlackRock in a research note on Friday, October 4th. They issued a “hold” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $943.93.

BlackRock Price Performance

Shares of BLK opened at $949.07 on Wednesday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $141.03 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The stock’s 50-day moving average price is $891.57 and its two-hundred day moving average price is $827.42. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $960.74.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $9.28 EPS. On average, equities analysts predict that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is presently 51.84%.

About BlackRock

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.