Topsail Wealth Management LLC Acquires 83 Shares of BlackRock $BLK

Topsail Wealth Management LLC grew its holdings in shares of BlackRock (NYSE:BLK) by 17.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 568 shares of the asset manager’s stock after buying an additional 83 shares during the period. Topsail Wealth Management LLC’s holdings in BlackRock were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Welch Group LLC grew its stake 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 stake 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 stake 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 stake in BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after purchasing an additional 10 shares in the last quarter. Finally, Trust Co. of Oklahoma grew its stake in BlackRock by 0.5% in the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock worth $2,123,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Up 1.2%

BlackRock stock opened at $1,138.60 on Friday. The business has a fifty day moving average of $1,139.57 and a two-hundred day moving average of $1,053.41. 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 firm has a market cap of $176.31 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.97 and a beta of 1.45. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94.

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

Wall Street Analyst Weigh In

BLK has been the topic of several research analyst reports. BNP Paribas Exane increased their price objective on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. BMO Capital Markets increased their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Jefferies Financial Group increased their price objective on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

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.