Carr Financial Group Corp Acquires 36 Shares of BlackRock $BLK

Carr Financial Group Corp raised its holdings in BlackRock (NYSE:BLK) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 369 shares of the asset manager’s stock after acquiring an additional 36 shares during the period. Carr Financial Group Corp’s holdings in BlackRock were worth $388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its stake in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the last quarter. Garde Capital Inc. lifted its stake in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in BlackRock during the 1st quarter valued at about $30,000. Finally, MorganRosel Wealth Management LLC purchased a new position in BlackRock in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 14,828 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the sale, the chief executive officer directly owned 263,751 shares of the company’s stock, valued at $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director directly owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock worth $74,694,573 over the last ninety days. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $1,131.86 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $1,121.97 and a 200-day moving average price of $1,015.69. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The firm has a market capitalization of $175.27 billion, a PE ratio of 27.37, a P/E/G ratio of 2.17 and a beta of 1.45.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm posted $10.36 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock’s dividend payout ratio is presently 50.39%.

Analyst Ratings Changes

A number of analysts have recently weighed in on BLK shares. Jefferies Financial Group raised their target price on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Morgan Stanley dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. UBS Group reissued a “neutral” rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,154.07.

BlackRock Company 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.