Telemus Capital LLC Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Telemus Capital LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,933 shares of the asset manager’s stock after purchasing an additional 283 shares during the period. Telemus Capital LLC’s holdings in BlackRock were worth $8,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Abacus Planning Group Inc. lifted its holdings in shares of BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares during the last quarter. Everhart Financial Group Inc. lifted its holdings in shares of BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 14 shares during the last quarter. Spreng Capital Management Inc. increased its position in BlackRock by 1.1% in the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares during the period. Inscription Capital LLC increased its position in BlackRock by 1.2% in the 4th quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after acquiring an additional 15 shares during the period. Finally, ERTS Wealth Advisors LLC increased its position in BlackRock by 2.9% in the 4th quarter. ERTS Wealth Advisors LLC now owns 538 shares of the asset manager’s stock valued at $437,000 after acquiring an additional 15 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of NYSE:BLK opened at $760.05 on Tuesday. The business’s fifty day moving average price is $804.19 and its two-hundred day moving average price is $758.48. The stock has a market cap of $113.20 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm earned $7.93 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the sale, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Rachel Lord sold 36,059 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Christopher J. Meade sold 3,100 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total value of $2,460,966.00. Following the completion of the transaction, the general counsel now directly owns 8,628 shares in the company, valued at $6,849,424.08. The disclosure for this sale can be found here. Insiders have sold 82,511 shares of company stock worth $66,778,367 over the last quarter. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley increased their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.