Coastline Trust Co Makes New $1.41 Million Investment in BlackRock, Inc. (NYSE:BLK)

Coastline Trust Co bought a new position in BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,373 shares of the asset manager's stock, valued at approximately $1,407,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in BlackRock during the fourth quarter valued at $2,356,357,000. Proficio Capital Partners LLC grew its position in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of BlackRock during the 4th quarter valued at $572,730,000. Amundi purchased a new position in BlackRock in the fourth quarter valued at about $528,792,000. Finally, Montrusco Bolton Investments Inc. purchased a new stake in shares of BlackRock during the 4th quarter worth about $343,976,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BLK has been the topic of several analyst reports. TD Cowen dropped their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. StockNews.com initiated coverage on BlackRock in a report on Monday, April 14th. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Bank of America reduced their target price 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. Finally, Citigroup lowered their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,077.08.

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, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the sale, the director now owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 20,430 shares of company stock valued at $21,234,629 in the last 90 days. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $875.86 on Friday. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. 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 business has a fifty day simple moving average of $930.31 and a 200 day simple moving average of $985.45. The firm has a market capitalization of $135.98 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.90 and a beta of 1.38.

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

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. BlackRock's dividend payout ratio (DPR) is 50.63%.

BlackRock Company 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.

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