Harbour Capital Advisors LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,973 shares of the asset manager’s stock after buying an additional 88 shares during the period. Harbour Capital Advisors LLC’s holdings in BlackRock were worth $1,997,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Garrett Wealth Advisory Group LLC purchased a new stake in BlackRock during the 3rd quarter worth approximately $30,000. Ellevest Inc. increased its stake in BlackRock by 89.2% during the 2nd quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock worth $33,000 after buying an additional 33 shares during the period. Asset Dedication LLC purchased a new stake in BlackRock during the 3rd quarter worth approximately $33,000. Vista Private Wealth Partners. LLC purchased a new stake in BlackRock during the 3rd quarter worth approximately $33,000. Finally, Simon Quick Advisors LLC increased its stake in BlackRock by 760.0% during the 4th quarter. Simon Quick Advisors LLC now owns 86 shares of the asset manager’s stock worth $43,000 after buying an additional 76 shares during the period. 81.37% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Gary Shedlin sold 3,995 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $490.96, for a total value of $1,961,385.20. Also, insider Jerkovic Milan 3,000,000 shares of the stock in a transaction dated Thursday, October 24th. In the last 90 days, insiders sold 6,371 shares of company stock valued at $3,225,225. Company insiders own 1.42% of the company’s stock.
Several equities research analysts recently weighed in on BLK shares. Barclays reaffirmed a “buy” rating and set a $485.00 target price on shares of BlackRock in a research note on Wednesday, October 9th. Citigroup upped their target price on shares of BlackRock from $565.00 to $580.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Deutsche Bank started coverage on shares of BlackRock in a research note on Thursday, January 9th. They set a “buy” rating on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of BlackRock in a research note on Sunday. Finally, Argus reaffirmed a “buy” rating and set a $570.00 target price (up from $535.00) on shares of BlackRock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $534.80.
Shares of BlackRock stock traded up $7.72 during trading hours on Wednesday, hitting $536.86. The company had a trading volume of 778,123 shares, compared to its average volume of 642,366. The company’s 50-day moving average is $507.42 and its two-hundred day moving average is $466.62. BlackRock, Inc. has a twelve month low of $401.80 and a twelve month high of $539.63. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.33 and a quick ratio of 2.33. The company has a market cap of $82.62 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.54.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $8.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.69 by $0.65. BlackRock had a net margin of 30.79% and a return on equity of 14.05%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the prior year, the business posted $6.08 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 31.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 46.35%.
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.
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