Thurston Springer Miller Herd & Titak Inc. Has $2.69 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 34.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,623 shares of the asset manager’s stock after purchasing an additional 670 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in BlackRock were worth $2,689,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Park Avenue Securities LLC grew its holdings in shares of BlackRock by 33.5% during the 4th quarter. Park Avenue Securities LLC now owns 11,816 shares of the asset manager’s stock worth $12,113,000 after purchasing an additional 2,963 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of BlackRock by 27.8% during the 4th quarter. Kathmere Capital Management LLC now owns 515 shares of the asset manager’s stock worth $528,000 after purchasing an additional 112 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of BlackRock during the 4th quarter worth $330,662,000. Fifth Third Wealth Advisors LLC grew its holdings in shares of BlackRock by 12.1% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,742 shares of the asset manager’s stock worth $3,836,000 after purchasing an additional 404 shares in the last quarter. Finally, Pines Wealth Management LLC acquired a new stake in shares of BlackRock during the 4th quarter worth $234,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

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

BlackRock Price Performance

BlackRock stock opened at $962.75 on Wednesday. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The business has a 50-day simple moving average of $1,029.20 and a 200 day simple moving average of $943.81. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $149.11 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.92 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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 return on equity of 15.52% and a net margin of 31.37%. On average, research analysts forecast that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday. Evercore ISI upped their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Barclays dropped their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,088.67.

BlackRock 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.