Carr Financial Group Corp Acquires New Position in BlackRock, Inc. (NYSE:BLK)

Carr Financial Group Corp acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, Holdings Channel reports. The fund acquired 527 shares of the asset manager’s stock, valued at approximately $540,000.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. Pathway Financial Advisers LLC grew its stake in BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after buying an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after purchasing an additional 791,874 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of BlackRock during the 4th quarter worth about $330,662,000. FMR LLC lifted its holdings in shares of BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in BlackRock during the 3rd quarter valued at about $115,377,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on BLK. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com started coverage on BlackRock in a research note on Friday. They set a “hold” rating on the stock. Citigroup increased their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Keefe, Bruyette & Woods lowered their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,190 shares of company stock worth $104,436,741. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Up 0.2 %

NYSE:BLK opened at $1,020.19 on Friday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market cap of $158.01 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company has a 50 day simple moving average of $1,024.77 and a two-hundred day simple moving average of $952.31.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the company posted $9.66 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. BlackRock’s payout ratio is 48.57%.

BlackRock 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.