MassMutual Private Wealth & Trust FSB Reduces Holdings in BlackRock, Inc. (NYSE:BLK)

MassMutual Private Wealth & Trust FSB lessened its position in BlackRock, Inc. (NYSE:BLK) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,830 shares of the asset manager’s stock after selling 2,026 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in BlackRock were worth $21,353,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BLK. FSA Wealth Management LLC purchased a new position in shares of BlackRock during the third quarter valued at approximately $26,000. Fairscale Capital LLC purchased a new position in BlackRock during the 2nd quarter valued at $31,000. Reston Wealth Management LLC purchased a new stake in BlackRock in the third quarter worth $37,000. MFA Wealth Advisors LLC lifted its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC bought a new position in shares of BlackRock in the fourth quarter worth about $39,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on BLK shares. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. TD Cowen increased their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays decreased their target price on 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. StockNews.com initiated coverage on BlackRock in a research note on Thursday. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,103.33.

BlackRock Price Performance

Shares of BLK stock opened at $1,004.23 on Monday. The firm has a market capitalization of $155.54 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock’s 50-day simple moving average is $1,027.33 and its 200-day simple moving average is $947.28. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the company posted $9.66 earnings per share. The business’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts forecast that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

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.