First Fiduciary Investment Counsel Inc. Has $18.67 Million Stake in BlackRock, Inc. (NYSE:BLK)

First Fiduciary Investment Counsel Inc. trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,664 shares of the asset manager’s stock after selling 105 shares during the period. BlackRock makes up about 3.7% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 4th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in BlackRock were worth $18,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Marino Stram & Associates LLC increased its stake in shares of BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after purchasing an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its stake in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares in the last quarter. Finally, XML Financial LLC increased its stake in shares of BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 12 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,670,194.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 35,061 shares of company stock worth $30,734,840. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley lifted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Citigroup boosted their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,004.54.

BlackRock Trading Up 0.3 %

Shares of BlackRock stock opened at $1,039.28 on Friday. The firm has a market capitalization of $153.95 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.78 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $650.63 and a fifty-two week high of $1,057.51. 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 has a 50 day moving average of $953.10 and a 200 day moving average of $860.23.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $10.91 earnings per share. As a group, research analysts predict that BlackRock, Inc. will post 42.94 earnings per share 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.