BlackRock $BLK Shares Acquired by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC increased its holdings in shares of BlackRock (NYSE:BLK) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,531 shares of the asset manager’s stock after purchasing an additional 25 shares during the period. BlackRock accounts for about 1.9% of Summit Place Financial Advisors LLC’s holdings, making the stock its 18th biggest holding. Summit Place Financial Advisors LLC’s holdings in BlackRock were worth $3,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Royal Bank of Canada boosted its position in BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after purchasing an additional 555,098 shares during the period. Vanguard Group Inc. boosted its position in BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the period. Goldman Sachs Group Inc. boosted its position in BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in BlackRock in the 2nd quarter valued at about $231,000. Finally, Unisphere Establishment boosted its position in BlackRock by 29.2% in the 1st quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after buying an additional 189,500 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

BLK opened at $1,132.12 on Friday. The firm has a market cap of $175.31 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,184.13. The company’s 50-day moving average price is $1,134.85 and its 200 day moving average price is $1,034.64. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.36 earnings per share. As a group, sell-side analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLK. Citigroup upped their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Argus reissued a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a research report on Wednesday. Finally, Jefferies Financial Group increased their price target on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,258.56.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last ninety days. 1.98% of the stock is owned by company insiders.

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.