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

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

Other hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd increased its stake in BlackRock by 1.0% in the 3rd quarter. Plato Investment Management Ltd now owns 5,912 shares of the asset manager’s stock worth $5,608,000 after acquiring an additional 59 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its holdings in shares of BlackRock by 75.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 140 shares of the asset manager’s stock worth $133,000 after purchasing an additional 60 shares during the period. Schrum Private Wealth Management LLC purchased a new stake in BlackRock during the 3rd quarter valued at $268,000. Oppenheimer Asset Management Inc. lifted its position in BlackRock by 0.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 15,499 shares of the asset manager’s stock worth $14,716,000 after buying an additional 51 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its holdings in shares of BlackRock by 91.7% in the 3rd quarter. Empower Advisory Group LLC now owns 736 shares of the asset manager’s stock worth $699,000 after acquiring an additional 352 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Barclays increased their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI boosted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Down 0.0 %

Shares of BLK stock opened at $1,046.87 on Friday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $965.44 and a 200 day moving average of $867.99. BlackRock, Inc. has a twelve month low of $708.75 and a twelve month high of $1,068.34. The stock has a market cap of $155.07 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.84 and a beta of 1.30.

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

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

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.