Telos Capital Management Inc. Buys New Holdings in BlackRock $BLK

by · The Cerbat Gem

Telos Capital Management Inc. bought a new stake in BlackRock (NYSE:BLK – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 258 shares of the asset manager’s stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sigma Planning Corp increased its position in BlackRock by 1.2% in the 2nd quarter. Sigma Planning Corp now owns 1,288 shares of the asset manager’s stock valued at $1,351,000 after buying an additional 15 shares in the last quarter. iA Global Asset Management Inc. increased its position in BlackRock by 126.4% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,381 shares of the asset manager’s stock valued at $1,449,000 after buying an additional 771 shares in the last quarter. Gilbert & Cook Inc. increased its position in BlackRock by 1.9% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,257 shares of the asset manager’s stock valued at $1,319,000 after buying an additional 24 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in BlackRock by 37.8% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 747 shares of the asset manager’s stock valued at $784,000 after buying an additional 205 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its position in BlackRock by 2.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 4,907 shares of the asset manager’s stock valued at $5,149,000 after buying an additional 118 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

BLK has been the subject of a number of recent research reports. Loop Capital set a $1,255.00 price objective on BlackRock in a report on Tuesday, October 21st. BNP Paribas Exane boosted their price objective on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. UBS Group reissued a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. TD Cowen boosted their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, BMO Capital Markets boosted their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,299.29.

Check Out Our Latest Stock Report on BLK

BlackRock Stock Performance

BLK stock opened at $1,070.93 on Tuesday. The firm has a market cap of $165.84 billion, a PE ratio of 27.54, a P/E/G ratio of 1.90 and a beta of 1.45. 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 business has a 50 day moving average of $1,135.59 and a 200-day moving average of $1,065.08. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94.

BlackRock (NYSE:BLK – Get Free Report) last released its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the company earned $11.46 earnings per share. As a group, sell-side analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Insider Activity

In other news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Company Profile

(Free Report)

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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