BlackRock, Inc. (NYSE:BLK) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 19.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,944 shares of the asset manager’s stock after acquiring an additional 477 shares during the quarter. Summit Trail Advisors LLC’s holdings in BlackRock were worth $3,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Ritholtz Wealth Management raised its position in BlackRock by 1.6% in the third quarter. Ritholtz Wealth Management now owns 1,892 shares of the asset manager’s stock valued at $1,797,000 after purchasing an additional 29 shares during the period. CVA Family Office LLC raised its position in BlackRock by 11.0% in the third quarter. CVA Family Office LLC now owns 282 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 28 shares during the period. Douglas Lane & Associates LLC raised its position in BlackRock by 36.1% in the third quarter. Douglas Lane & Associates LLC now owns 377 shares of the asset manager’s stock valued at $358,000 after purchasing an additional 100 shares during the period. Martin Capital Advisors LLP raised its position in BlackRock by 1.4% in the third quarter. Martin Capital Advisors LLP now owns 2,009 shares of the asset manager’s stock valued at $1,908,000 after purchasing an additional 27 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in BlackRock by 85.2% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 313 shares of the asset manager’s stock valued at $297,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BLK shares. Morgan Stanley lifted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Barclays dropped their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Citigroup lifted their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com initiated coverage on BlackRock in a research note on Sunday. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock valued at $115,163,141 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $985.24 on Tuesday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $1,024.93 and a 200-day simple moving average of $969.98. The company has a market cap of $152.59 billion, a PE ratio of 23.46, a P/E/G ratio of 1.93 and a beta of 1.28. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $9.66 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.12%. BlackRock’s payout ratio is currently 48.57%.

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.