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

Harbor Investment Advisory LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,251 shares of the asset manager’s stock, valued at approximately $7,433,000. BlackRock accounts for about 0.7% of Harbor Investment Advisory LLC’s portfolio, making the stock its 25th largest position.

Several other large investors also recently modified their holdings of the business. State Street Corp increased its stake in BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after purchasing an additional 42,757 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of BlackRock by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after buying an additional 30,182 shares during the period. FMR LLC increased its position in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after acquiring an additional 40,865 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,004.23 on Tuesday. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a market cap of $155.54 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. The business’s 50 day moving average price is $1,027.33 and its two-hundred day moving average price is $948.40. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the business earned $9.66 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Dividend Announcement

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

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the firm’s 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 directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was 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 directly owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent research reports. Citigroup lifted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Morgan Stanley boosted their target price 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. Barclays decreased their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price objective 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, TD Cowen lifted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,103.33.

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.