BlackRock, Inc. (NYSE:BLK) Shares Purchased by Summit Financial LLC

Summit Financial LLC increased its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 8.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,213 shares of the asset manager's stock after purchasing an additional 384 shares during the quarter. Summit Financial LLC's holdings in BlackRock were worth $5,344,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Prudent Man Investment Management Inc. acquired a new position in BlackRock during the fourth quarter worth $43,000. C M Bidwell & Associates Ltd. raised its holdings in shares of BlackRock by 7,975.0% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 323 shares of the asset manager's stock valued at $331,000 after acquiring an additional 319 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of BlackRock by 155.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 10,078 shares of the asset manager's stock valued at $10,331,000 after acquiring an additional 6,137 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of BlackRock by 2.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in BlackRock by 13.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 23,436 shares of the asset manager's stock valued at $24,024,000 after purchasing an additional 2,830 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

BLK has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Citigroup boosted their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Barclays decreased their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,120.67.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company's stock, valued at approximately $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 20,430 shares of company stock worth $21,234,629 over the last three months. Insiders own 0.90% of the company's stock.

BlackRock Stock Down 0.2 %

NYSE BLK traded down $1.73 during trading hours on Tuesday, hitting $944.75. 668,591 shares of the company were exchanged, compared to its average volume of 668,610. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The firm has a market cap of $146.68 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.90 and a beta of 1.28. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $977.53 and a two-hundred day moving average of $992.68.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.66 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid a dividend of $5.21 per share. This is a boost from BlackRock's previous quarterly dividend of $5.10. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.21%. BlackRock's payout ratio is presently 49.62%.

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.