Bank Julius Baer & Co. Ltd Zurich Raises Stock Position in BlackRock (NYSE:BLK)

Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of BlackRock (NYSE:BLK - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,197 shares of the asset manager's stock after buying an additional 8,246 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.07% of BlackRock worth $117,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $30,000. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock in the first quarter valued at $31,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of BlackRock in the first quarter valued at $34,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of BlackRock in the fourth quarter valued at $43,000. Institutional investors own 80.69% of the company's stock.

BlackRock Trading Down 0.1%

BLK stock traded down $1.68 during trading on Thursday, hitting $1,118.69. The company had a trading volume of 538,926 shares, compared to its average volume of 798,309. The firm has a market capitalization of $173.32 billion, a P/E ratio of 27.05, a PEG ratio of 2.22 and a beta of 1.41. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,125.76. The company has a 50 day simple moving average of $1,022.22 and a 200-day simple moving average of $975.06. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $10.36 EPS. As a group, research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.86%. BlackRock's dividend payout ratio (DPR) is 50.39%.

Analyst Ratings Changes

A number of research firms recently weighed in on BLK. TD Cowen cut their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Citigroup reduced their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,151.21.

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.