Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in BlackRock, Inc. (NYSE:BLK) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,587 shares of the asset manager’s stock after purchasing an additional 395 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BlackRock were worth $13,416,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of BLK. Comerica Securities Inc. grew its holdings in BlackRock by 6.4% in the 4th quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock valued at $1,144,000 after buying an additional 174 shares in the last quarter. Geode Capital Management LLC grew its holdings in BlackRock by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after buying an additional 60,941 shares in the last quarter. Legacy Advisors LLC purchased a new stake in BlackRock in the 1st quarter valued at $80,000. Chartwell Investment Partners LLC grew its holdings in BlackRock by 4.5% in the 1st quarter. Chartwell Investment Partners LLC now owns 11,036 shares of the asset manager’s stock valued at $4,716,000 after buying an additional 480 shares in the last quarter. Finally, Moody National Bank Trust Division grew its holdings in BlackRock by 18.5% in the 1st quarter. Moody National Bank Trust Division now owns 237 shares of the asset manager’s stock valued at $101,000 after buying an additional 37 shares in the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock stock traded down $11.29 during trading hours on Friday, hitting $426.33. The company’s stock had a trading volume of 590,823 shares, compared to its average volume of 518,837. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $492.00. The company’s fifty day simple moving average is $467.52. The company has a market cap of $67.62 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s payout ratio is 49.02%.
Several brokerages have issued reports on BLK. JPMorgan Chase & Co. dropped their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Citigroup upped their price target on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Co upped their price target on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a research note on Wednesday, April 17th. Barclays upped their price target on BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley upped their price target on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $499.03.
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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