Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in BlackRock, Inc. (NYSE:BLK)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,618 shares of the asset manager’s stock after acquiring an additional 2,082 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BlackRock were worth $47,586,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock in the fourth quarter worth $27,000. LFA Lugano Financial Advisors SA increased its stake in BlackRock by 208.3% in the fourth 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 last quarter. Tyler Stone Wealth Management bought a new position in BlackRock in the second quarter valued at $33,000. Exchange Traded Concepts LLC increased its stake in BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in BlackRock in the fourth quarter valued at $40,000. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares in the company, valued at $4,691,032.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction that occurred on 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 completion of the transaction, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock worth $71,864,028 over the last three months. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group increased their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Morgan Stanley increased their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $811.43.

BlackRock Stock Performance

BlackRock stock opened at $749.02 on Wednesday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $807.70 and a 200-day moving average of $755.20. The firm has a market cap of $111.56 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.53 and a beta of 1.37. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the business posted $7.93 earnings per share. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that BlackRock, Inc. will post 41.41 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.