Summit Trail Advisors LLC Purchases 42 Shares of BlackRock, Inc. (NYSE:BLK)

Summit Trail Advisors LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 2.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,868 shares of the asset manager’s stock after acquiring an additional 42 shares during the period. Summit Trail Advisors LLC’s holdings in BlackRock were worth $1,470,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in BlackRock during the 1st quarter worth $27,000. Pineridge Advisors LLC bought a new position in BlackRock during the 4th quarter worth $28,000. Lam Group Inc. bought a new position in BlackRock during the 1st quarter worth $33,000. Fairman Group LLC bought a new position in BlackRock during the 4th quarter worth $35,000. Finally, Chilton Capital Management LLC bought a new position in BlackRock during the 1st quarter worth $38,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. Insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $928.79 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a 50-day moving average of $868.55 and a 200-day moving average of $817.89. The company has a market cap of $138.02 billion, a PE ratio of 23.60, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a one year low of $596.18 and a one year high of $942.73.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.28 EPS. On average, equities research analysts predict that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.20%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Analyst Ratings Changes

Several research analysts recently issued reports on BLK shares. Wells Fargo & Company initiated coverage on BlackRock in a research report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 target price for the company. UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Evercore ISI increased their price target on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Barclays increased their price target on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, TD Cowen decreased their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $902.13.

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.