Harbor Capital Advisors Inc. Purchases 11 Shares of BlackRock, Inc. (NYSE:BLK)

Harbor Capital Advisors Inc. raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,979 shares of the asset manager’s stock after acquiring an additional 11 shares during the period. Harbor Capital Advisors Inc.’s holdings in BlackRock were worth $2,829,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in BlackRock during the 3rd quarter valued at approximately $37,000. Chilton Capital Management LLC bought a new stake in BlackRock during the 1st quarter valued at approximately $38,000. MFA Wealth Advisors LLC boosted its position in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in BlackRock during the 2nd quarter valued at approximately $53,000. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 35,061 shares of company stock valued at $30,734,840. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $991.50 on Tuesday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $646.91 and a twelve month high of $1,032.00. The firm has a market cap of $146.87 billion, a P/E ratio of 24.47, a PEG ratio of 1.76 and a beta of 1.30. The company has a 50 day moving average of $942.16 and a 200 day moving average of $853.97.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the firm posted $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. As a group, research analysts expect that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BLK has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. TD Cowen lifted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, The Goldman Sachs Group lifted their target price 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

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.