444 Shares in BlackRock $BLK Purchased by Summit Wealth & Retirement Planning Inc.

Summit Wealth & Retirement Planning Inc. purchased a new stake in shares of BlackRock (NYSE:BLK) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 444 shares of the asset manager’s stock, valued at approximately $466,000.

Several other hedge funds have also added to or reduced their stakes in BLK. Garde Capital Inc. grew its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the period. Whipplewood Advisors LLC raised its holdings in shares of BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares during the period. Game Plan Financial Advisors LLC lifted its stake in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. Creekmur Asset Management LLC grew its holdings in BlackRock by 87.5% during the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 14 shares during the period. Finally, Mid American Wealth Advisory Group Inc. purchased a new stake in BlackRock in the second quarter worth $34,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several research reports. BNP Paribas Exane boosted their target price on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Bank of America lifted their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Citigroup increased their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Barclays boosted their price target on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $1,299.29.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Up 1.1%

Shares of NYSE BLK opened at $1,081.66 on Friday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $167.50 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The business has a 50-day simple moving average of $1,130.62 and a two-hundred day simple moving average of $1,068.02.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the previous year, the company posted $11.46 earnings per share. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. Research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

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.