BlackRock, Inc. (NYSE:BLK) Position Boosted by Harmony Asset Management LLC

Harmony Asset Management LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,689 shares of the asset manager’s stock after acquiring an additional 120 shares during the quarter. Harmony Asset Management LLC’s holdings in BlackRock were worth $2,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in BlackRock during the 1st quarter valued at $27,000. Pineridge Advisors LLC bought a new stake in BlackRock in the fourth quarter worth about $28,000. Fairscale Capital LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $31,000. Lam Group Inc. acquired a new position in shares of BlackRock in the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new position in shares of BlackRock in the fourth quarter valued at $35,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $928.79 on Monday. The firm has a market capitalization of $138.02 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. 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 12-month low of $596.18 and a 12-month high of $942.73. The firm has a 50-day moving average price of $868.55 and a 200 day moving average price of $817.80.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business posted $9.28 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.20%. BlackRock’s payout ratio is 51.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. UBS Group reduced their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company began coverage on shares of BlackRock in a research report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price objective on the stock. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

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.