Zurcher Kantonalbank Zurich Cantonalbank Has $58.10 Million Stake in BlackRock, Inc. (NYSE:BLK)

by · The Markets Daily

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BlackRock, Inc. (NYSE:BLK – Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,186 shares of the asset manager’s stock after purchasing an additional 716 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BlackRock were worth $58,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Lazard Asset Management LLC lifted its position in BlackRock by 9.5% in the 1st quarter. Lazard Asset Management LLC now owns 938 shares of the asset manager’s stock valued at $781,000 after acquiring an additional 81 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of BlackRock by 15.7% in the first quarter. Citizens Financial Group Inc. RI now owns 532 shares of the asset manager’s stock valued at $444,000 after purchasing an additional 72 shares in the last quarter. LRI Investments LLC purchased a new position in shares of BlackRock during the first quarter valued at approximately $70,000. Swedbank AB bought a new stake in BlackRock during the first quarter worth $86,282,000. Finally, PGGM Investments raised its position in BlackRock by 204.2% in the 1st quarter. PGGM Investments now owns 4,095 shares of the asset manager’s stock valued at $3,414,000 after buying an additional 2,749 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK opened at $1,019.45 on Thursday. The firm has a 50-day moving average price of $991.35 and a 200-day moving average price of $885.16. BlackRock, Inc. has a twelve month low of $725.86 and a twelve month high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $157.89 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.84 and a beta of 1.30.

BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data 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. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $10.91 EPS. Equities analysts expect that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.00%. BlackRock’s dividend payout ratio is currently 50.35%.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

Check Out Our Latest Analysis on BLK

BlackRock Company Profile

(Free Report)

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.

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