Summit Trail Advisors LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 53,902.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,274,454 shares of the asset manager’s stock after purchasing an additional 1,272,094 shares during the quarter. Summit Trail Advisors LLC owned about 0.80% of BlackRock worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BLK. BlackRock Inc. raised its stake in shares of BlackRock by 2.6% in the first quarter. BlackRock Inc. now owns 7,447,936 shares of the asset manager’s stock worth $4,034,698,000 after acquiring an additional 192,139 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of BlackRock by 2.6% during the fourth quarter. Clearbridge Investments LLC now owns 1,855,275 shares of the asset manager’s stock worth $953,073,000 after buying an additional 47,692 shares during the last quarter. Geode Capital Management LLC increased its stake in BlackRock by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 1,260,724 shares of the asset manager’s stock valued at $646,251,000 after purchasing an additional 46,914 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in BlackRock by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 463,251 shares of the asset manager’s stock valued at $250,953,000 after purchasing an additional 25,901 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in BlackRock by 6.9% in the first quarter. Royal Bank of Canada now owns 452,599 shares of the asset manager’s stock valued at $245,183,000 after purchasing an additional 29,222 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.
In other news, insider Marc D. Comerchero sold 400 shares of BlackRock stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $524.84, for a total value of $209,936.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff A. Smith sold 166 shares of BlackRock stock in a transaction on Monday, May 21st. The shares were sold at an average price of $546.13, for a total transaction of $90,657.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,066 shares of company stock valued at $558,514. Company insiders own 1.75% of the company’s stock.
BlackRock traded up $3.74, reaching $514.59, during trading hours on Wednesday, Marketbeat Ratings reports. 15,522 shares of the stock were exchanged, compared to its average volume of 547,023. BlackRock, Inc. has a twelve month low of $408.62 and a twelve month high of $594.52. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $82.51 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.56 and a beta of 1.67.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share for the quarter, beating analysts’ consensus estimates of $6.39 by $0.31. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period last year, the company posted $5.25 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. sell-side analysts expect that BlackRock, Inc. will post 27.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 21st. Investors of record on Thursday, June 7th were given a dividend of $2.88 per share. The ex-dividend date of this dividend was Wednesday, June 6th. This represents a $11.52 annualized dividend and a yield of 2.24%. BlackRock’s dividend payout ratio is presently 50.97%.
Several equities research analysts have commented on BLK shares. ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut shares of BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Deutsche Bank reduced their target price on shares of BlackRock to $623.00 and set a “buy” rating for the company in a report on Tuesday, March 6th. Credit Suisse Group upped their price target on shares of BlackRock from $672.00 to $678.00 and gave the stock an “outperform” rating in a research report on Thursday, April 5th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $640.00 price objective on shares of BlackRock in a research report on Wednesday, March 14th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BlackRock has an average rating of “Buy” and a consensus target price of $576.33.
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.
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.