BlackRock, Inc. (BLK) Stake Increased by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,399 shares of the asset manager’s stock after buying an additional 1,835 shares during the period. BlackRock makes up approximately 1.1% of Bridges Investment Management Inc.’s portfolio, making the stock its 22nd largest position. Bridges Investment Management Inc.’s holdings in BlackRock were worth $24,152,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in BlackRock by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock valued at $3,793,546,000 after purchasing an additional 153,749 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in BlackRock by 53,902.3% in the 1st quarter. Summit Trail Advisors LLC now owns 1,274,454 shares of the asset manager’s stock valued at $1,274,000 after purchasing an additional 1,272,094 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in BlackRock by 2.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock valued at $237,562,000 after purchasing an additional 12,785 shares during the last quarter. Royal Bank of Canada increased its holdings in BlackRock by 6.9% in the 1st quarter. Royal Bank of Canada now owns 452,599 shares of the asset manager’s stock valued at $245,183,000 after purchasing an additional 29,222 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in BlackRock by 1.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 448,835 shares of the asset manager’s stock valued at $243,142,000 after purchasing an additional 6,507 shares during the last quarter. Hedge funds and other institutional investors own 82.93% of the company’s stock.

Shares of BLK stock opened at $468.98 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. BlackRock, Inc. has a 52 week low of $423.13 and a 52 week high of $594.52. The company has a market capitalization of $75.18 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.54.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.55 by $0.11. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the company posted $5.24 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. equities analysts forecast that BlackRock, Inc. will post 27.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 24th. Shareholders of record on Friday, September 7th will be given a $3.13 dividend. This represents a $12.52 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, September 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.88. BlackRock’s dividend payout ratio (DPR) is currently 55.40%.

In other BlackRock news, Director William E. Ford purchased 1,000 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was bought at an average price of $467.92 per share, with a total value of $467,920.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,526,768. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Laurence Fink sold 19,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the completion of the transaction, the chairman now directly owns 1,098,328 shares of the company’s stock, valued at approximately $557,588,175.76. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.

Several analysts recently weighed in on the stock. Citigroup upgraded shares of BlackRock from a “neutral” rating to a “buy” rating in a report on Monday, June 18th. ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Keefe, Bruyette & Woods upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price for the company in a report on Friday, July 13th. Barclays dropped their target price on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a report on Tuesday, July 17th. Finally, Goldman Sachs Group dropped their target price on shares of BlackRock to $570.00 and set a “buy” rating for the company in a report on Tuesday, July 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and an average price target of $594.25.

BlackRock Company 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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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