BlackRock, Inc. (NYSE:BLK) Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 63.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,100 shares of the asset manager’s stock after buying an additional 1,590 shares during the quarter. Summit Investment Advisors Inc.’s holdings in BlackRock were worth $4,203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. IAG Wealth Partners LLC purchased a new position in BlackRock in the fourth quarter valued at $26,000. Collier Financial acquired a new stake in BlackRock in the 4th quarter valued at about $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock in the 4th quarter valued at about $33,000. Atwood & Palmer Inc. acquired a new position in shares of BlackRock during the fourth quarter worth about $36,000. Finally, West Financial Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $1,053.00 to $1,046.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Bank of America lowered their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Barclays cut their price target on BlackRock from $1,210.00 to $950.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Citigroup upped their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, TD Cowen dropped their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,096.92.

BlackRock Stock Up 2.4 %

Shares of NYSE:BLK opened at $879.39 on Monday. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The stock has a market cap of $136.53 billion, a P/E ratio of 20.94, a P/E/G ratio of 1.90 and a beta of 1.38. The firm has a fifty day moving average price of $942.05 and a 200 day moving average price of $988.26.

BlackRock (NYSE:BLK) last announced its 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 business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.81 earnings per share. Sell-side analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a $5.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is presently 49.62%.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 20,430 shares of company stock worth $21,234,629 over the last 90 days. 0.90% of the stock is currently owned by 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.