BlackRock, Inc. (BLK) Shares Sold by Bridges Investment Management Inc.
Bridges Investment Management Inc. lowered its stake in BlackRock, Inc. (NYSE:BLK) by 0.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 27,848 shares of the asset manager’s stock after selling 135 shares during the period. BlackRock accounts for approximately 1.6% of Bridges Investment Management Inc.’s holdings, making the stock its 13th biggest holding. Bridges Investment Management Inc.’s holdings in BlackRock were worth $12,451,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its position in shares of BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after purchasing an additional 30 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after purchasing an additional 85 shares during the last quarter. Enterprise Financial Services Corp increased its position in shares of BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of BlackRock in the 2nd quarter worth about $104,000. Finally, Kings Point Capital Management increased its position in shares of BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after purchasing an additional 70 shares during the last quarter. 82.47% of the stock is owned by institutional investors.
In related news, insider Jeff A. Smith sold 250 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,025 shares of company stock valued at $2,162,130 in the last quarter. 1.86% of the stock is currently owned by corporate insiders.
BlackRock, Inc. (BLK) traded down 0.81% on Tuesday, reaching $474.09. 171,774 shares of the company’s stock were exchanged. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $485.23. The firm has a 50-day moving average of $437.85 and a 200-day moving average of $416.14. The firm has a market capitalization of $76.61 billion, a price-to-earnings ratio of 22.21 and a beta of 1.72.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $5.14 EPS. On average, equities analysts expect that BlackRock, Inc. will post $22.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.
Several research firms have recently weighed in on BLK. Jefferies Group LLC reissued a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research report on Friday, August 18th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Morgan Stanley reissued an “overweight” rating and issued a $476.00 target price (up previously from $460.00) on shares of BlackRock in a research report on Tuesday, July 18th. Deutsche Bank AG boosted their target price on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $478.50.
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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