Carret Asset Management LLC Has $268,000 Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Carret Asset Management LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 8.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 322 shares of the asset manager’s stock after acquiring an additional 25 shares during the period. Carret Asset Management LLC’s holdings in BlackRock were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock in the 4th quarter worth $27,000. Private Wealth Management Group LLC acquired a new position in BlackRock during the fourth quarter worth $28,000. Pineridge Advisors LLC bought a new position in shares of BlackRock in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA grew its holdings in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of BlackRock during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley boosted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $915.00 price objective on shares of BlackRock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $844.17.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

BLK stock opened at $788.85 on Thursday. The firm has a market cap of $117.22 billion, a PE ratio of 20.05, a P/E/G ratio of 1.63 and a beta of 1.32. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $780.22 and a 200-day moving average of $792.74. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.93 earnings per share. As a group, sell-side analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.