Harbor Investment Advisory LLC Has $6.28 Million Position in BlackRock, Inc. (NYSE:BLK)

Harbor Investment Advisory LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,533 shares of the asset manager’s stock after selling 42 shares during the quarter. BlackRock accounts for 0.6% of Harbor Investment Advisory LLC’s portfolio, making the stock its 28th largest position. Harbor Investment Advisory LLC’s holdings in BlackRock were worth $6,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock in the fourth quarter valued at $27,000. Private Wealth Management Group LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA increased its stake in shares of BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in shares of BlackRock in the fourth quarter valued at $32,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley lifted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Check Out Our Latest Stock Report on BLK

BlackRock Stock Up 1.4 %

Shares of NYSE:BLK traded up $11.35 during trading on Monday, hitting $798.95. 528,650 shares of the company’s stock traded hands, compared to its average volume of 608,555. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market cap of $118.72 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.62 and a beta of 1.34. The company has a 50-day moving average price of $775.61 and a 200-day moving average price of $791.81.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the business posted $7.93 EPS. BlackRock’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

About BlackRock

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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