First Citizens Bank & Trust Co. Has $3.56 Million Holdings in BlackRock $BLK

First Citizens Bank & Trust Co. grew its stake in BlackRock (NYSE:BLK) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,388 shares of the asset manager’s stock after buying an additional 185 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in BlackRock were worth $3,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Welch Group LLC boosted its holdings in shares of BlackRock by 1.2% in the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after buying an additional 9 shares during the period. Stanley Laman Group Ltd. boosted its holdings in shares of BlackRock by 2.7% in the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after buying an additional 9 shares during the period. McLean Asset Management Corp boosted its holdings in shares of BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after buying an additional 10 shares during the period. Trust Co. of Oklahoma boosted its holdings in shares of BlackRock by 0.5% in the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after buying an additional 10 shares during the period. Finally, TOWER TRUST & INVESTMENT Co boosted its holdings in shares of BlackRock by 1.3% in the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock valued at $838,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Cowen restated a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. BMO Capital Markets increased their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Jefferies Financial Group increased their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Seventeen equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 12,000 shares of the stock in a transaction 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 owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,125.33 on Friday. The stock has a market cap of $174.26 billion, a P/E ratio of 28.94, a P/E/G ratio of 1.95 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company has a fifty day moving average price of $1,139.52 and a two-hundred day moving average price of $1,049.53. BlackRock has a one year low of $773.74 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.46 EPS. As a group, equities analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock 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.