Bridges Investment Management Inc. raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 27,983 shares of the asset manager’s stock after buying an additional 45 shares during the period. BlackRock accounts for 1.6% of Bridges Investment Management Inc.’s portfolio, making the stock its 13th largest position. Bridges Investment Management Inc.’s holdings in BlackRock were worth $11,820,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp acquired a new stake in BlackRock during the first quarter valued at approximately $279,000. Osborn Williams & Donohoe LLC boosted its stake in BlackRock by 1.2% in the first quarter. Osborn Williams & Donohoe LLC now owns 21,310 shares of the asset manager’s stock valued at $8,173,000 after buying an additional 263 shares during the period. Weaver C. Barksdale & Associates Inc. boosted its stake in BlackRock by 42.3% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 3,950 shares of the asset manager’s stock valued at $1,515,000 after buying an additional 1,175 shares during the period. Raymond James Trust N.A. boosted its stake in BlackRock by 1.3% in the first quarter. Raymond James Trust N.A. now owns 17,629 shares of the asset manager’s stock valued at $6,761,000 after buying an additional 221 shares during the period. Finally, Charter Trust Co. boosted its stake in BlackRock by 9.0% in the first quarter. Charter Trust Co. now owns 4,871 shares of the asset manager’s stock valued at $1,868,000 after buying an additional 402 shares during the period. 80.76% of the stock is currently owned by institutional investors.
BlackRock, Inc. (NYSE:BLK) traded up 0.12% on Friday, hitting $426.51. The stock had a trading volume of 412,611 shares. The company has a market cap of $69.18 billion, a price-to-earnings ratio of 20.47 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.83. The company has a 50 day moving average price of $427.11 and a 200-day moving average price of $397.31.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the company earned $4.78 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that BlackRock, Inc. will post $21.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be paid a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.34%. BlackRock’s payout ratio is 47.98%.
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BLK has been the topic of several recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $441.00 price objective (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price objective on shares of BlackRock in a research report on Wednesday, May 17th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research report on Monday, June 19th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a research report on Tuesday, June 20th. Finally, BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and an average price target of $434.93.
In other news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Insiders sold 3,772 shares of company stock worth $1,567,516 in the last 90 days. Company insiders own 1.86% of the company’s stock.
About BlackRock
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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