Clear Harbor Asset Management LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Clear Harbor Asset Management LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,342 shares of the asset manager’s stock, valued at approximately $8,552,000.

Several other large investors have also recently added to or reduced their stakes in BLK. Lmcg Investments LLC bought a new stake in shares of BlackRock in the 4th quarter valued at about $692,000. Aspiriant LLC bought a new stake in BlackRock in the fourth quarter worth about $405,000. ARS Investment Partners LLC boosted its holdings in BlackRock by 5.7% in the 4th quarter. ARS Investment Partners LLC now owns 10,097 shares of the asset manager’s stock worth $10,351,000 after buying an additional 543 shares during the period. Reliant Investment Management LLC purchased a new position in shares of BlackRock during the fourth quarter worth about $4,610,000. Finally, Mitchell & Pahl Private Wealth LLC boosted its stake in BlackRock by 3.5% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 2,706 shares of the asset manager’s stock worth $2,774,000 after buying an additional 92 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,004.23 on Tuesday. 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, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The business has a 50 day moving average of $1,027.33 and a two-hundred day moving average of $948.40. The company has a market cap of $155.54 billion, a P/E ratio of 23.91, a PEG ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.66 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 47.23 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s payout ratio is presently 48.57%.

Analyst Upgrades and Downgrades

BLK has been the topic of several research reports. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays cut their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company raised their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted 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. Finally, StockNews.com assumed coverage on shares of BlackRock in a research note on Thursday, January 16th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,103.33.

Insider Activity

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $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 can be accessed through 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 shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

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.