Bridges Investment Management Inc. Has $85.22 Million Stock Position in BlackRock $BLK

Bridges Investment Management Inc. trimmed its position in BlackRock (NYSE:BLK) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,621 shares of the asset manager’s stock after selling 6,714 shares during the period. BlackRock comprises approximately 1.1% of Bridges Investment Management Inc.’s holdings, making the stock its 27th largest holding. Bridges Investment Management Inc.’s holdings in BlackRock were worth $85,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Birchbrook Inc. acquired a new position in shares of BlackRock in the fourth quarter worth about $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of BlackRock in the fourth quarter worth about $32,000. Basepoint Wealth LLC acquired a new position in shares of BlackRock in the fourth quarter worth about $32,000. Hopwood Financial Services Inc. boosted its holdings in shares of BlackRock by 866.7% in the third quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock worth $34,000 after buying an additional 26 shares during the period. Finally, Collier Financial acquired a new position in shares of BlackRock in the third quarter worth about $36,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the sale, the chief executive officer directly owned 230,516 shares in the company, valued at $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the completion of the sale, the president owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.92% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on BLK. Barclays raised their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Jefferies Financial Group decreased their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Morgan Stanley raised their price target on shares of BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. CICC Research raised their price target on shares of BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. Finally, The Goldman Sachs Group raised their price target on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,269.06.

BlackRock Price Performance

NYSE BLK opened at $1,019.74 on Wednesday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $158.30 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.42. The company has a 50 day moving average price of $1,030.75 and a two-hundred day moving average price of $1,053.05. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company earned $9.64 earnings per share. As a group, equities analysts predict that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date is Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s payout ratio is 57.53%.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s Rick Rieder said earnings growth and cash moving back into markets support a bullish case for stocks, which reinforces confidence in the firm’s market outlook and asset-management franchise. Why BlackRock’s Rick Rieder feels ‘a bit more relaxed’ about AI bull market than dotcom era
• Positive Sentiment: BlackRock increased its stake in OMV to 4.67%, signaling continued active investment activity and influence in large institutional holdings. BlackRock Lifts OMV Stake Above 4 Threshold
• Positive Sentiment: Financial stocks were broadly higher in Tuesday trading, which could provide a sector tailwind for BlackRock as an asset manager. Sector Update: Financial Stocks Advance Tuesday Afternoon
• Neutral Sentiment: BlackRock launched a $25 million Future Builders RFP to support skilled trades workforce development, a reputationally positive move but not likely to have a direct near-term earnings impact. BlackRock Future Builders RFP Links Skilled Trades Philanthropy And Client Relations
• Neutral Sentiment: BlackRock refined tracking and climate-screen methodology for certain iShares ETFs in India and Asia ex-Japan, a product update that is unlikely to materially move the stock on its own. BlackRock Tightens Tracking and Refines Climate Screens for India and Asia ex Japan iShares ETFs
• Negative Sentiment: BlackRock’s crypto-related ETFs are seeing heavy outflows, including a reported $1.26 billion sale of IBIT shares and broader weekly outflows from spot Bitcoin ETFs, which could weigh on sentiment around the company’s rapidly watched digital-asset business. NYDIG suggests $1.3B IBIT sale was whale exiting directional trade
• Negative Sentiment: Reports that BlackRock’s crypto portfolio value fell by more than $13 billion over five months add to concerns about weaker performance in its digital-asset exposure. BlackRock crypto portfolio fell by over $13 billion in 5 months

BlackRock Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.