First Western Trust Bank Has $4.28 Million Holdings in BlackRock $BLK

First Western Trust Bank decreased its stake in BlackRock (NYSE:BLK) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. increased its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares in the last quarter. Whipplewood Advisors LLC boosted its position in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares in the last quarter. Game Plan Financial Advisors LLC grew its stake in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 15 shares during the last quarter. Creekmur Asset Management LLC grew its stake in BlackRock by 87.5% during the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after buying an additional 14 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in shares of BlackRock during the second quarter worth approximately $34,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 0.7%

BLK stock opened at $1,093.04 on Thursday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market cap of $169.26 billion, a P/E ratio of 28.11, a PEG ratio of 1.90 and a beta of 1.48. The business has a fifty day moving average of $1,129.00 and a 200-day moving average of $1,073.06.

BlackRock (NYSE:BLK) last posted its quarterly 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 firm 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%. BlackRock’s revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.46 EPS. As a group, equities research analysts expect that BlackRock will post 47.41 EPS for the current year.

Insider Activity at BlackRock

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BLK. Barclays boosted their target price on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Bank of America boosted their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI raised their target price on BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Keefe, Bruyette & Woods lifted their price target on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,303.41.

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.