Carret Asset Management LLC Invests $241,000 in BlackRock, Inc. (NYSE:BLK)

Carret Asset Management LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 297 shares of the asset manager’s stock, valued at approximately $241,000.

Several other hedge funds have also made changes to their positions in BLK. Nikulski Financial Inc. increased its holdings in BlackRock by 6.8% in the third quarter. Nikulski Financial Inc. now owns 314 shares of the asset manager’s stock valued at $203,000 after buying an additional 20 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Private Trust Co. NA increased its holdings in BlackRock by 1.6% in the third quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock valued at $722,000 after buying an additional 18 shares in the last quarter. Caprock Group LLC increased its holdings in BlackRock by 2.8% in the third quarter. Caprock Group LLC now owns 1,924 shares of the asset manager’s stock valued at $1,244,000 after buying an additional 53 shares in the last quarter. Finally, Culbertson A N & Co. Inc. increased its stake in shares of BlackRock by 1.0% during the 3rd quarter. Culbertson A N & Co. Inc. now owns 2,070 shares of the asset manager’s stock worth $1,338,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK traded down $6.42 during midday trading on Thursday, hitting $756.38. The company’s stock had a trading volume of 209,918 shares, compared to its average volume of 624,214. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The firm’s fifty day moving average price is $803.50 and its 200-day moving average price is $759.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market cap of $112.66 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.59 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business posted $7.93 EPS. BlackRock’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BLK. Morgan Stanley raised their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group raised their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the transaction, the director now directly owns 70,378 shares in the company, valued at $54,972,959.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,511 shares of company stock worth $66,778,367. Insiders own 0.90% of the company’s stock.

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.