Topsail Wealth Management LLC Invests $445,000 in BlackRock, Inc. (NYSE:BLK)

Topsail Wealth Management LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 434 shares of the asset manager's stock, valued at approximately $445,000.

A number of other institutional investors also recently bought and sold shares of the business. IAG Wealth Partners LLC purchased a new position in BlackRock during the fourth quarter worth about $26,000. Collier Financial purchased a new position in shares of BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $33,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $36,000. Finally, West Financial Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $39,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the subject of several recent analyst reports. Barclays raised their price target on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Bank of America reduced their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. StockNews.com started coverage on BlackRock in a report on Tuesday, April 22nd. They set a "hold" rating for the company. Citigroup reduced their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, UBS Group reduced their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the transaction, the director now owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 22,430 shares of company stock valued at $21,963,649. Company insiders own 1.98% of the company's stock.

BlackRock Trading Up 0.0 %

Shares of NYSE:BLK traded up $0.05 during midday trading on Tuesday, reaching $913.79. The company's stock had a trading volume of 120,819 shares, compared to its average volume of 903,669. The firm has a market cap of $141.87 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1 year low of $748.78 and a 1 year high of $1,084.22. The business has a 50 day moving average price of $920.58 and a 200 day moving average price of $983.34.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the business earned $9.81 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. BlackRock's payout ratio is 50.63%.

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.