Telemus Capital LLC Has $8.06 Million Position in BlackRock, Inc. (NYSE:BLK)

Telemus Capital LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,933 shares of the asset manager’s stock after buying an additional 283 shares during the quarter. Telemus Capital LLC’s holdings in BlackRock were worth $8,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Emerald Advisors LLC lifted its stake in shares of BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in BlackRock by 1.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after buying an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its holdings in shares of BlackRock by 8.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after acquiring an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in BlackRock during the fourth quarter valued at $439,000. Finally, Patten & Patten Inc. TN purchased a new stake in BlackRock during the fourth quarter valued at about $205,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

BlackRock Stock Performance

BLK stock opened at $760.05 on Tuesday. The stock has a market capitalization 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. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $804.19 and its 200 day simple moving average is $758.48.

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

Insider Activity at BlackRock

In related news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $781.11, for a total value of $2,669,833.98. Following the transaction, the director now owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares in the company, valued at $4,691,032.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,511 shares of company stock valued at $66,778,367. 0.90% of the stock is owned by corporate insiders.

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.