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

Summit Trail Advisors LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 32.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,467 shares of the asset manager’s stock after purchasing an additional 599 shares during the quarter. Summit Trail Advisors LLC’s holdings in BlackRock were worth $2,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in BlackRock during the 2nd quarter valued at about $31,000. Reston Wealth Management LLC purchased a new stake in BlackRock during the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC increased its holdings in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC lifted its holdings in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in BlackRock in the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of BlackRock stock opened at $1,036.46 on Monday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month high of $1,068.34. The business has a 50-day moving average price of $984.28 and a 200-day moving average price of $880.90. The firm has a market cap of $160.53 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.83 and a beta of 1.30.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. BlackRock’s payout ratio is 50.35%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research reports. StockNews.com started coverage on shares of BlackRock in a research note on Thursday. They set a “hold” rating for the company. Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

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.