BlackRock, Inc. (NYSE:BLK) Shares Sold by Telemus Capital LLC

Telemus Capital LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,473 shares of the asset manager’s stock after selling 178 shares during the quarter. Telemus Capital LLC’s holdings in BlackRock were worth $7,238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in BlackRock in the first quarter valued at approximately $115,000. United Bank raised its position in BlackRock by 17.1% in the first quarter. United Bank now owns 1,287 shares of the asset manager’s stock valued at $983,000 after purchasing an additional 188 shares during the period. Panagora Asset Management Inc. raised its position in BlackRock by 2.6% in the first quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock valued at $1,512,000 after purchasing an additional 51 shares during the period. Sequoia Financial Advisors LLC raised its position in BlackRock by 35.4% in the first quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock valued at $783,000 after purchasing an additional 268 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in BlackRock by 11.7% in the first quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock valued at $1,110,000 after purchasing an additional 152 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BLK. Bank of America cut their target price on BlackRock from $928.00 to $921.00 in a research report on Sunday, July 16th. Citigroup upped their price objective on BlackRock from $750.00 to $815.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. JPMorgan Chase & Co. cut their price objective on BlackRock from $780.00 to $770.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $770.00 to $835.00 in a research report on Monday, July 10th. Finally, Wells Fargo & Company upped their price objective on BlackRock from $780.00 to $820.00 in a research report on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $767.69.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 2,079 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $733.82, for a total transaction of $1,525,611.78. Following the completion of the sale, the director now owns 6,160 shares in the company, valued at $4,520,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Laurence Fink sold 20,200 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the completion of the sale, the chief executive officer now owns 464,125 shares in the company, valued at $344,399,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 2,079 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total transaction of $1,525,611.78. Following the sale, the director now owns 6,160 shares of the company’s stock, valued at approximately $4,520,331.20. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

BlackRock Stock Performance

NYSE BLK traded down $9.40 during trading hours on Friday, hitting $697.41. The company had a trading volume of 2,816,120 shares, compared to its average volume of 641,401. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.21 and a current ratio of 4.21. BlackRock, Inc. has a 1-year low of $503.12 and a 1-year high of $785.65. The company has a market cap of $104.12 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.96 and a beta of 1.29. The business has a 50 day moving average of $706.29 and a 200-day moving average of $681.21.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, July 14th. The asset manager reported $9.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.76. BlackRock had a net margin of 29.90% and a return on equity of 14.29%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the firm posted $7.36 earnings per share. BlackRock’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that BlackRock, Inc. will post 35.48 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $20.00 annualized dividend and a dividend yield of 2.87%. BlackRock’s dividend payout ratio (DPR) is 58.41%.

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.