620 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Harbour Investments Inc.

Harbour Investments Inc. acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel reports. The firm acquired 620 shares of the asset manager’s stock, valued at approximately $635,000.

Other hedge funds have also modified their holdings of the company. Fidelity D & D Bancorp Inc. raised its position in shares of BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 10 shares during the period. Princeton Global Asset Management LLC raised its holdings in BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock valued at $128,000 after acquiring an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in BlackRock by 0.8% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after acquiring an additional 10 shares during the last quarter. Legacy Capital Group California Inc. boosted its holdings in shares of BlackRock by 2.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after acquiring an additional 10 shares during the period. Finally, Studio Investment Management LLC grew its position in shares of BlackRock by 0.4% in the third quarter. Studio Investment Management LLC now owns 3,076 shares of the asset manager’s stock valued at $2,921,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. 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 the SEC website. Insiders sold a total of 20,430 shares of company stock valued at $21,234,629 in the last quarter. Insiders own 0.90% of the company’s stock.

BlackRock Trading Down 0.3 %

Shares of BLK opened at $954.11 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. 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 $148.13 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.90 and a beta of 1.28. The business’s fifty day moving average is $980.87 and its 200-day moving average is $987.36.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.66 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.18%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio is currently 49.62%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BLK. Morgan Stanley boosted their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Citigroup lifted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, StockNews.com assumed coverage on shares of BlackRock in a research report on Friday. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

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.