Harbour Capital Advisors LLC Sells 40 Shares of BlackRock (NYSE:BLK)

Harbour Capital Advisors LLC trimmed its stake in BlackRock (NYSE:BLK) by 0.9% during the first quarter, HoldingsChannel.com reports. The fund owned 4,325 shares of the asset manager’s stock after selling 40 shares during the quarter. BlackRock accounts for about 0.9% of Harbour Capital Advisors LLC’s holdings, making the stock its 27th largest position. Harbour Capital Advisors LLC’s holdings in BlackRock were worth $3,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock worth $13,712,493,000 after buying an additional 68,405 shares in the last quarter. Capital World Investors increased its holdings in shares of BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of BlackRock by 104,598.9% in the 1st 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. Geode Capital Management LLC lifted its stake in shares of BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the period. Finally, FMR LLC boosted its holdings in BlackRock by 1.1% in the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock valued at $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen cut their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company increased their target price on BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Finally, UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,096.31.

BlackRock Stock Performance

Shares of BLK opened at $986.31 on Tuesday. The firm has a market cap of $152.81 billion, a P/E ratio of 23.96, a PEG ratio of 2.96 and a beta of 1.41. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,084.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The firm’s 50 day moving average price is $950.45 and its two-hundred day moving average price is $969.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.81 EPS. On average, analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a $5.21 dividend. 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 is presently 50.63%.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

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.