Flagship Harbor Advisors LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 481 shares of the asset manager’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. Bamco Inc. NY bought a new stake in shares of BlackRock in the 1st quarter valued at approximately $106,000. Clarus Wealth Advisors bought a new stake in shares of BlackRock in the 2nd quarter valued at approximately $133,000. O Shaughnessy Asset Management LLC bought a new stake in shares of BlackRock in the 1st quarter valued at approximately $139,000. AlphaMark Advisors LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at approximately $147,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of BlackRock in the 2nd quarter valued at approximately $150,000. 82.93% of the stock is currently owned by institutional investors.

In related news, Director William E. Ford acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was purchased at an average cost of $507.98 per share, for a total transaction of $507,980.00. Following the purchase, the director now directly owns 4,400 shares in the company, valued at $2,235,112. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Laurence Fink sold 19,800 shares of the company’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total value of $10,051,866.00. Following the transaction, the chairman now owns 1,098,328 shares of the company’s stock, valued at $557,588,175.76. The disclosure for this sale can be found here. 1.86% of the stock is owned by corporate insiders.

BLK has been the subject of a number of research analyst reports. Deutsche Bank lowered their price target on BlackRock from $570.00 to $561.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Morgan Stanley lowered their price target on BlackRock from $624.00 to $607.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Zacks Investment Research downgraded BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Goldman Sachs Group lowered their price target on BlackRock to $570.00 and set a “buy” rating for the company in a report on Tuesday, July 17th. Finally, JPMorgan Chase & Co. set a $547.00 price target on BlackRock and gave the company a “buy” rating in a report on Sunday, July 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock currently has an average rating of “Buy” and a consensus target price of $594.25.

Shares of BLK opened at $468.98 on Friday. The firm has a market cap of $75.01 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.46 and a beta of 1.54. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88. BlackRock, Inc. has a 12 month low of $423.13 and a 12 month high of $594.52.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 EPS for the quarter, topping the Zacks’ consensus estimate of $6.55 by $0.11. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.24 EPS. equities analysts forecast that BlackRock, Inc. will post 27.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Investors of record on Friday, September 7th will be paid a dividend of $3.13 per share. This is an increase from BlackRock’s previous quarterly dividend of $2.88. This represents a $12.52 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, September 6th. BlackRock’s dividend payout ratio is presently 55.40%.

About BlackRock

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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