BlackRock, Inc. (NYSE:BLK) Shares Purchased by Harbour Investment Management LLC

Harbour Investment Management LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,461 shares of the asset manager’s stock after purchasing an additional 34 shares during the period. BlackRock accounts for approximately 1.6% of Harbour Investment Management LLC’s portfolio, making the stock its 16th largest position. Harbour Investment Management LLC’s holdings in BlackRock were worth $3,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLK. Greykasell Wealth Strategies Inc. acquired a new position in BlackRock in the fourth quarter valued at $851,000. Campbell Capital Management Inc. acquired a new position in BlackRock in the fourth quarter valued at $52,000. Poinciana Advisors Group LLC acquired a new position in BlackRock in the fourth quarter valued at $259,000. Buckley Wealth Management LLC acquired a new position in BlackRock in the fourth quarter valued at $754,000. Finally, First National Trust Co boosted its stake in BlackRock by 0.3% in the fourth quarter. First National Trust Co now owns 10,731 shares of the asset manager’s stock valued at $11,000,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company upped their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group upped their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Citigroup upped their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, Barclays reduced their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock 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 430 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the sale, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. This represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 20,430 shares of company stock valued at $21,234,629. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 3.1 %

Shares of BlackRock stock opened at $928.74 on Friday. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market cap of $144.19 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The company has a 50-day moving average of $983.61 and a two-hundred day moving average of $985.61.

BlackRock (NYSE:BLK) last issued 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. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the company posted $9.66 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a $5.21 dividend. The ex-dividend date is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.24%. BlackRock’s dividend payout ratio (DPR) is 49.62%.

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.