Harbour Capital Advisors LLC Makes New $4.46 Million Investment in BlackRock, Inc. (NYSE:BLK)

Harbour Capital Advisors LLC bought a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC increased its position in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. International Assets Investment Management LLC lifted its holdings in BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after buying an additional 791,874 shares during the period. FMR LLC raised its position in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in BlackRock in the third quarter valued at about $115,377,000. Finally, BNP Paribas Financial Markets raised its holdings in BlackRock by 48.3% in the third quarter. BNP Paribas Financial Markets now owns 337,172 shares of the asset manager’s stock worth $320,148,000 after purchasing an additional 109,771 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of 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 initiated coverage on BlackRock in a research report on Wednesday, January 8th. They issued a “hold” rating for the company. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,083.92.

BlackRock Stock Performance

NYSE:BLK traded down $1.07 during trading hours on Monday, reaching $954.57. The company had a trading volume of 501,636 shares, compared to its average volume of 689,075. The firm has a market cap of $147.84 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The business’s 50 day moving average price is $1,030.97 and its 200-day moving average price is $941.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

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

BlackRock Announces Dividend

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

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction on Thursday, December 5th. The stock was 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 directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.