First Interstate Bank Has $629,000 Stake in BlackRock, Inc. (NYSE:BLK)

First Interstate Bank lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 9.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 662 shares of the asset manager’s stock after selling 72 shares during the period. First Interstate Bank’s holdings in BlackRock were worth $629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in BlackRock in the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock during the third quarter worth $37,000. MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Chilton Capital Management LLC bought a new stake in BlackRock during the 1st quarter worth about $38,000. Finally, City Holding Co. acquired a new position in BlackRock during the 3rd quarter valued at about $55,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent research reports. Argus raised their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com began coverage on BlackRock in a research note on Monday, October 28th. They issued a “hold” rating for the company. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Stock Performance

BlackRock stock traded up $4.05 during midday trading on Friday, reaching $985.08. 792,041 shares of the company’s stock were exchanged, compared to its average volume of 571,688. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock’s 50-day simple moving average is $940.00 and its 200 day simple moving average is $850.84. The firm has a market cap of $145.92 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.76 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $623.77 and a 52 week high of $1,032.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the business earned $10.91 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts expect that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,511 shares of company stock valued at $55,568,552. Company insiders own 0.90% of the company’s stock.

About BlackRock

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.