Summit Investment Advisors Inc. Sells 84 Shares of BlackRock $BLK

Summit Investment Advisors Inc. lowered its stake in BlackRock (NYSE:BLK) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 4,016 shares of the asset manager’s stock after selling 84 shares during the period. Summit Investment Advisors Inc.’s holdings in BlackRock were worth $3,801,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Welch Group LLC raised its holdings in BlackRock by 1.2% in the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after acquiring an additional 9 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in BlackRock by 2.7% during the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after buying an additional 9 shares in the last quarter. CNB Bank increased its holdings in BlackRock by 9.6% in the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after buying an additional 9 shares during the period. McLean Asset Management Corp raised its position in shares of BlackRock by 3.9% in the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after buying an additional 10 shares in the last quarter. Finally, Trust Co. of Oklahoma lifted its holdings in shares of BlackRock by 0.5% during the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock worth $2,123,000 after acquiring an additional 10 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

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

BlackRock Stock Performance

Shares of BLK opened at $1,081.66 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The stock has a 50-day moving average of $1,130.62 and a 200-day moving average of $1,069.28. The company has a market cap of $167.50 billion, a PE ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $11.46 EPS. On average, equities research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent analyst reports. Evercore ISI lifted their price target on BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group reiterated a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on BlackRock and gave the stock a “buy” rating in a report on Wednesday, October 15th. Barclays raised their price objective on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of BlackRock in a research report on Thursday, October 30th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,303.41.

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.