Harbour Capital Advisors LLC Takes $4.46 Million Position in BlackRock, Inc. (NYSE:BLK)

Harbour Capital Advisors LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,365 shares of the asset manager’s stock, valued at approximately $4,456,000. BlackRock accounts for about 1.0% of Harbour Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of BLK. FSA Wealth Management LLC acquired a new position in shares of BlackRock in the 3rd quarter worth approximately $26,000. Fairscale Capital LLC purchased a new stake in BlackRock in the second quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter valued at $37,000. MFA Wealth Advisors LLC increased its stake in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the period. Finally, Addison Advisors LLC grew its stake in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK traded down $1.07 during mid-day trading on Monday, hitting $954.57. 501,636 shares of the company’s stock were exchanged, compared to its average volume of 689,075. The firm has a market capitalization of $147.84 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.92 and a beta of 1.28. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The business’s 50 day moving average is $1,030.97 and its two-hundred day moving average is $941.35. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the company earned $10.91 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio is presently 50.35%.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the company’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 in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred 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 sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley boosted their target price on BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. StockNews.com began coverage on shares of BlackRock in a report on Wednesday, January 8th. They issued a “hold” rating on the stock. Barclays dropped their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Citigroup raised 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,083.92.

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.