7,251 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, HoldingsChannel reports. The firm acquired 7,251 shares of the asset manager’s stock, valued at approximately $7,433,000. BlackRock accounts for approximately 0.7% of Harbor Investment Advisory LLC’s portfolio, making the stock its 25th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. FSA Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter worth $26,000. Fairscale Capital LLC acquired a new position in BlackRock during the second quarter worth about $31,000. West Financial Advisors LLC bought a new position in shares of BlackRock in the fourth quarter worth about $39,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the 3rd quarter valued at approximately $37,000. Finally, MFA Wealth Advisors LLC grew its holdings in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BLK. The Goldman Sachs Group raised their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley upped their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, StockNews.com assumed coverage on shares of BlackRock in a report on Thursday, January 16th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,103.33.

BlackRock Trading Up 0.9 %

NYSE BLK opened at $1,004.23 on Tuesday. The stock has a market capitalization of $155.54 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.53 and a beta of 1.28. The business has a 50 day simple moving average of $1,027.33 and a 200 day simple moving average of $948.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the firm posted $9.66 EPS. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Research analysts expect that BlackRock, Inc. will post 43.02 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. BlackRock’s dividend payout ratio is currently 50.35%.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.