Summit Trail Advisors LLC Acquires 599 Shares of BlackRock, Inc. (NYSE:BLK)

Summit Trail Advisors LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 32.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,467 shares of the asset manager’s stock after buying an additional 599 shares during the quarter. Summit Trail Advisors LLC’s holdings in BlackRock were worth $2,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. Raymond James Trust N.A. raised its position in shares of BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after acquiring an additional 614 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after buying an additional 30,274 shares during the last quarter. GAMMA Investing LLC grew its position in shares of BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock worth $1,804,000 after buying an additional 884 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in shares of BlackRock by 20.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock worth $20,256,000 after acquiring an additional 3,675 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $1,036.46 on Monday. BlackRock, Inc. has a 1 year low of $724.54 and a 1 year high of $1,068.34. 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 company’s fifty day moving average price is $984.28 and its 200 day moving average price is $880.90. The stock has a market capitalization of $160.53 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the firm earned $10.91 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be issued a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.97%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BLK. Morgan Stanley lifted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays upped their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Company 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.