Zurcher Kantonalbank Zurich Cantonalbank Has $36.24 Million Stake in BlackRock, Inc. (BLK)
Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,064 shares of the asset manager’s stock after selling 2,958 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of BlackRock worth $36,243,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in BLK. Salem Investment Counselors Inc. lifted its stake in BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after acquiring an additional 30 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after acquiring an additional 85 shares in the last quarter. Enterprise Financial Services Corp lifted its stake in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after acquiring an additional 85 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in BlackRock in the 2nd quarter worth about $104,000. Finally, Harfst & Associates Inc. lifted its stake in BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after acquiring an additional 39 shares in the last quarter. 82.13% of the stock is owned by institutional investors and hedge funds.
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Shares of BlackRock, Inc. (NYSE BLK) traded up $0.78 during midday trading on Tuesday, hitting $474.77. The stock had a trading volume of 392,200 shares, compared to its average volume of 528,879. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. The firm has a market cap of $76,000.00, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.79. BlackRock, Inc. has a fifty-two week low of $365.83 and a fifty-two week high of $489.79.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Zacks’ consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.14 EPS. analysts predict that BlackRock, Inc. will post 22.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, December 1st. BlackRock’s dividend payout ratio is 46.82%.
In other news, Director J. Richard Kushel sold 100 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark Mccombe sold 1,000 shares of the stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $478.99, for a total value of $478,990.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,875 shares of company stock worth $2,101,166. 1.86% of the stock is currently owned by insiders.
Several brokerages recently issued reports on BLK. J P Morgan Chase & Co increased their price objective on BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. BidaskClub downgraded BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $500.00 price target on shares of BlackRock in a research note on Thursday, October 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and an average target price of $489.08.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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