Zions Bancorporation N.A. Lowers Position in BlackRock, Inc. (NYSE:BLK)

Zions Bancorporation N.A. reduced its stake in BlackRock, Inc. (NYSE:BLK) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 247 shares of the asset manager’s stock after selling 22 shares during the period. Zions Bancorporation N.A.’s holdings in BlackRock were worth $235,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BLK. Capital Research Global Investors increased its holdings in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after buying an additional 46,728 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after buying an additional 22,311 shares during the period. Pathway Financial Advisers LLC boosted its holdings in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after acquiring an additional 1,044,962 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after acquiring an additional 791,874 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BLK shares. Evercore ISI increased their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays upped their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Stock Performance

Shares of BLK stock opened at $1,046.87 on Friday. The stock’s 50-day moving average is $965.44 and its two-hundred day moving average is $867.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 1 year low of $708.75 and a 1 year high of $1,068.34. The firm has a market cap of $155.07 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.84 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.91 earnings per share. Analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

About BlackRock

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.