First Western Trust Bank Sells 84 Shares of BlackRock $BLK

First Western Trust Bank decreased its stake in BlackRock (NYSE:BLK) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,074 shares of the asset manager’s stock after selling 84 shares during the quarter. First Western Trust Bank’s holdings in BlackRock were worth $4,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. ABN Amro Investment Solutions acquired a new position in BlackRock during the second quarter valued at approximately $3,350,000. Candriam S.C.A. boosted its position in shares of BlackRock by 68.2% during the second quarter. Candriam S.C.A. now owns 20,567 shares of the asset manager’s stock worth $21,581,000 after purchasing an additional 8,337 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of BlackRock by 7.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,167 shares of the asset manager’s stock worth $24,308,000 after purchasing an additional 1,693 shares in the last quarter. Bailard Inc. grew its holdings in shares of BlackRock by 2.7% in the 2nd quarter. Bailard Inc. now owns 28,360 shares of the asset manager’s stock valued at $29,757,000 after buying an additional 754 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of BlackRock by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock valued at $3,281,641,000 after buying an additional 34,049 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BLK shares. Jefferies Financial Group lifted their target price on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. The Goldman Sachs Group boosted their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Evercore ISI increased their target price on BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on shares of BlackRock and gave the company a “buy” rating in a report on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,303.41.

BlackRock Stock Up 0.7%

Shares of BlackRock stock opened at $1,093.04 on Thursday. The firm has a market cap of $169.26 billion, a PE ratio of 28.11, a P/E/G ratio of 1.90 and a beta of 1.48. The business’s 50 day simple moving average is $1,129.00 and its 200 day simple moving average is $1,073.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the prior year, the business earned $11.46 earnings per share. BlackRock’s revenue was up 25.2% compared to the same quarter last year. On average, analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

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.