Zurcher Kantonalbank Zurich Cantonalbank Has $64.18 Million Stock Position in BlackRock (NYSE:BLK)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BlackRock by 3.7%, holding 67,805 shares valued at approximately $64.18 million as of its most recent filing.
• Insider transactions included Rachel Lord selling 18,036 shares and CEO Laurence Fink selling 12,054 shares of BlackRock stock, indicating a decrease in their ownership stakes.
• BlackRock's recent quarterly earnings beat estimates with $12.05 EPS, and a dividend of $5.21 per share was announced, reflecting a 1.85% yield.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BlackRock (NYSE:BLK - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,805 shares of the asset manager's stock after purchasing an additional 2,409 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in BlackRock were worth $64,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the fourth quarter worth about $30,000. Fairway Wealth LLC increased its position in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock during the first quarter worth about $31,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of BlackRock during the first quarter worth about $34,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of BlackRock during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the transaction, the chief executive officer owned 251,697 shares of the company's stock, valued at $283,267,354.71. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,352 shares of company stock valued at $55,486,962. Company insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLK. Barclays boosted their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Bank of America boosted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Argus reissued a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group boosted their price target on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Finally, TD Cowen cut their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,151.21.

BlackRock Stock Performance

Shares of BLK stock opened at $1,123.48 on Friday. The firm has a market cap of $174.06 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,130.66. The firm's 50-day simple moving average is $1,027.64 and its two-hundred day simple moving average is $976.73.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.36 earnings per share. As a group, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio is 50.39%.

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.

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