8,342 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,342 shares of the asset manager’s stock, valued at approximately $8,552,000.

A number of other institutional investors have also recently made changes to their positions in BLK. FSA Wealth Management LLC bought a new position in BlackRock in the third quarter worth approximately $26,000. Fairscale Capital LLC purchased a new position in BlackRock during the second quarter worth about $31,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock in the fourth quarter valued at approximately $36,000. Reston Wealth Management LLC bought a new position in BlackRock in the 3rd quarter valued at $37,000. Finally, MFA Wealth Advisors LLC increased its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.9 %

BLK opened at $1,004.23 on Tuesday. The stock has a market capitalization of $155.54 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a fifty day moving average of $1,027.33 and a two-hundred day moving average of $948.40.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.66 EPS. On average, research analysts expect that BlackRock, Inc. will post 47.23 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s payout ratio is 48.57%.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BLK. StockNews.com began coverage on BlackRock in a report on Thursday, January 16th. They set a “hold” rating for the company. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price target on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Barclays dropped their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,103.33.

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.