Carret Asset Management LLC Has $294,000 Stock Position in BlackRock $BLK

Carret Asset Management LLC lowered its stake in shares of BlackRock (NYSE:BLK) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 280 shares of the asset manager’s stock after selling 10 shares during the quarter. Carret Asset Management LLC’s holdings in BlackRock were worth $294,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BLK. Welch Group LLC grew its holdings in shares of BlackRock by 1.2% during the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after buying an additional 9 shares during the last quarter. Stanley Laman Group Ltd. grew its holdings in shares of BlackRock by 2.7% during the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after buying an additional 9 shares during the last quarter. CNB Bank grew its holdings in shares of BlackRock by 9.6% during the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after buying an additional 9 shares during the last quarter. McLean Asset Management Corp grew its holdings in shares of BlackRock by 3.9% during the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after buying an additional 10 shares during the last quarter. Finally, Trust Co. of Oklahoma grew its holdings in shares of BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.1%

NYSE:BLK opened at $1,096.92 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market cap of $169.86 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The firm has a 50-day moving average price of $1,138.25 and a two-hundred day moving average price of $1,059.80.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the business posted $11.46 EPS. On average, equities analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Loop Capital set a $1,255.00 price objective on shares of BlackRock in a report on Tuesday, October 21st. BNP Paribas Exane lifted their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Evercore ISI lifted their price objective on shares of BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, UBS Group restated a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,299.29.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by insiders.

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.