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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock during the 4th quarter worth approximately $27,000. LFA Lugano Financial Advisors SA lifted its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of BlackRock during the 4th quarter worth $32,000. Exchange Traded Concepts LLC raised its holdings in shares of BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after buying an additional 47 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of BlackRock during the 4th quarter worth $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 36,059 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 82,511 shares of company stock valued at $66,778,367. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

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

BlackRock Stock Down 0.8 %

NYSE:BLK traded down $6.42 on Thursday, hitting $756.38. The stock had a trading volume of 209,918 shares, compared to its average volume of 624,214. The business’s fifty day moving average is $803.50 and its 200 day moving average is $759.33. The company has a market cap of $112.66 billion, a PE ratio of 19.07, a P/E/G ratio of 1.59 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00.

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

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.