BlackRock (NYSE:BLK) Holdings Lowered by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC lessened its stake in shares of BlackRock (NYSE:BLK) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,325 shares of the asset manager’s stock after selling 40 shares during the quarter. BlackRock comprises about 0.9% of Harbour Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Harbour Capital Advisors LLC’s holdings in BlackRock were worth $3,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. GAMMA Investing LLC lifted its holdings in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after buying an additional 3,496,740 shares during the period. Norges Bank acquired a new stake in BlackRock in the 4th quarter valued at about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of BlackRock by 401.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager’s stock valued at $1,122,743,000 after purchasing an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of BlackRock by 138,682.5% in the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after purchasing an additional 633,779 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in BlackRock during the fourth quarter valued at approximately $572,730,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

BLK stock opened at $986.31 on Tuesday. The firm has a 50 day moving average of $950.45 and a two-hundred day moving average of $969.00. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22. The company has a market capitalization of $152.81 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 2.96 and a beta of 1.41. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $9.81 earnings per share. As a group, equities analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BLK shares. UBS Group reduced their price objective on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Argus boosted their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. TD Cowen decreased their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. Finally, Wells Fargo & Company raised their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,096.31.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

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.