First Interstate Bank Sells 46 Shares of BlackRock, Inc. (NYSE:BLK)

First Interstate Bank lessened its stake in BlackRock, Inc. (NYSE:BLK) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 807 shares of the asset manager’s stock after selling 46 shares during the period. First Interstate Bank’s holdings in BlackRock were worth $655,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock during the 4th quarter valued at $27,000. LFA Lugano Financial Advisors SA grew its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares during the period. Tyler Stone Wealth Management bought a new stake in shares of BlackRock during the 2nd quarter valued at $33,000. Exchange Traded Concepts LLC lifted its stake in shares of BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter valued at $40,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BlackRock stock traded down $13.97 during trading hours on Tuesday, reaching $749.02. The company’s stock had a trading volume of 662,875 shares, compared to its average volume of 627,959. The firm has a 50 day moving average price of $808.48 and a 200-day moving average price of $754.48. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market cap of $111.56 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.65 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.93 EPS. On average, analysts predict that BlackRock, Inc. will post 41.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group lifted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley lifted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $811.43.

Insider Activity at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the transaction, the director now directly owns 70,378 shares in the company, valued at approximately $54,972,959.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,511 shares of company stock worth $71,864,028. 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.