Summit Trail Advisors LLC Has $3.02 Million Position in BlackRock, Inc. (NYSE:BLK)

Summit Trail Advisors LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,944 shares of the asset manager’s stock after purchasing an additional 477 shares during the quarter. Summit Trail Advisors LLC’s holdings in BlackRock were worth $3,018,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BLK. Pathway Financial Advisers LLC raised its stake in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. International Assets Investment Management LLC raised its stake in BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after purchasing an additional 791,874 shares during the period. Montrusco Bolton Investments Inc. purchased a new position in shares of BlackRock during the 4th quarter valued at $343,976,000. Assenagon Asset Management S.A. acquired a new position in shares of BlackRock in the fourth quarter worth $330,662,000. Finally, FMR LLC increased its stake in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

BLK opened at $985.24 on Tuesday. The company has a fifty day moving average price of $1,024.93 and a two-hundred day moving average price of $969.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The firm has a market capitalization 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 (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.66 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared 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. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. 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 three months. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research reports. UBS Group upped their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup increased their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Evercore ISI increased 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 report on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and ten 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 price target of $1,120.67.

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.