Summit Trail Advisors LLC Acquires 516 Shares of BlackRock (NYSE:BLK)

Summit Trail Advisors LLC lifted its position in shares of BlackRock (NYSE:BLK - Free Report) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,460 shares of the asset manager's stock after buying an additional 516 shares during the period. Summit Trail Advisors LLC's holdings in BlackRock were worth $3,275,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Mascoma Wealth Management LLC lifted its holdings in BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after acquiring an additional 11 shares during the period. Hazlett Burt & Watson Inc. increased its position in shares of BlackRock by 2.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock valued at $542,000 after purchasing an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after purchasing an additional 11 shares during the period. Truvestments Capital LLC boosted its holdings in shares of BlackRock by 10.8% in the 4th quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after buying an additional 12 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in BlackRock by 3.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock valued at $409,000 after buying an additional 12 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

BlackRock stock traded up $3.89 during midday trading on Tuesday, reaching $1,053.14. 472,278 shares of the stock were exchanged, compared to its average volume of 693,200. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The firm has a market cap of $163.16 billion, a PE ratio of 25.59, a PEG ratio of 3.18 and a beta of 1.41. The company's fifty day moving average is $966.29 and its 200-day moving average is $968.09.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.81 earnings per share. On average, sell-side analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's payout ratio is 50.63%.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLK. Wells Fargo & Company raised their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. UBS Group dropped their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Argus lifted their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Citigroup lowered their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, TD Cowen cut their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three investment 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.com, BlackRock currently has an average rating of "Moderate Buy" and an average price target of $1,102.08.

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.