Turtle Creek Wealth Advisors LLC Makes New $10.13 Million Investment in BlackRock (NYSE:BLK)

Turtle Creek Wealth Advisors LLC purchased a new stake in BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,701 shares of the asset manager's stock, valued at approximately $10,128,000. BlackRock accounts for approximately 1.5% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 15th largest holding.

Other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in shares of BlackRock in the fourth quarter valued at approximately $30,000. Fairway Wealth LLC boosted its stake in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the first quarter valued at approximately $31,000. Curio Wealth LLC bought a new stake in shares of BlackRock in the fourth quarter valued at approximately $41,000. Finally, Cedar Wealth Management LLC bought a new stake in shares of BlackRock in the fourth quarter valued at approximately $43,000. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director directly owned 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.98% of the stock is owned by company insiders.

BlackRock Stock Performance

BlackRock stock traded up $36.28 during mid-day trading on Wednesday, reaching $1,082.44. The company's stock had a trading volume of 1,404,815 shares, compared to its average volume of 700,691. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,112.13. The company has a market capitalization of $167.70 billion, a P/E ratio of 26.30, a PEG ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The firm's fifty day moving average price is $1,003.13 and its two-hundred day moving average price is $971.46.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $10.36 EPS. Sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.93%. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BLK shares. UBS Group restated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Barclays upped their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Bank of America upped their target price on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

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.