Safe Harbor Fiduciary LLC Invests $106,000 in BlackRock, Inc. (NYSE:BLK)

Safe Harbor Fiduciary LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 103 shares of the asset manager’s stock, valued at approximately $106,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC purchased a new position in shares of BlackRock in the fourth quarter valued at approximately $26,000. Collier Financial purchased a new stake in BlackRock in the 4th quarter valued at $32,000. Compass Planning Associates Inc purchased a new stake in BlackRock in the 4th quarter valued at $33,000. Atwood & Palmer Inc. acquired a new position in BlackRock in the 4th quarter valued at $36,000. Finally, Synergy Investment Management LLC acquired a new position in BlackRock in the 4th quarter valued at $40,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BLK. Citigroup lowered their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company reduced their target price on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Morgan Stanley cut their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. StockNews.com began coverage on shares of BlackRock in a research report on Friday. They set a “hold” rating for the company. Finally, Bank of America lowered their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,077.08.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 12,430 shares of company stock valued at $11,237,249. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Up 0.6%

NYSE:BLK opened at $989.39 on Friday. The firm has a market capitalization of $153.61 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22. The stock’s 50 day moving average price is $916.06 and its two-hundred day moving average price is $978.08. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $9.81 EPS. Equities research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.11%. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

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.