Bridges Investment Management Inc. boosted its holdings 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 institutional investor owned 48,399 shares of the asset manager’s stock after purchasing an additional 1,835 shares during the period. BlackRock accounts for approximately 1.1% of Bridges Investment Management Inc.’s holdings, making the stock its 22nd largest holding. 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 hedge funds have also added to or reduced their stakes in BLK. O Shaughnessy Asset Management LLC acquired a new stake in BlackRock during the 1st quarter valued at $139,000. Thrivent Financial for Lutherans increased its holdings in BlackRock by 3.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 5,152 shares of the asset manager’s stock valued at $2,791,000 after purchasing an additional 151 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in BlackRock by 65.5% during the 1st quarter. Riverhead Capital Management LLC now owns 3,847 shares of the asset manager’s stock valued at $2,084,000 after purchasing an additional 1,522 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of BlackRock by 64.1% in the 1st quarter. Penserra Capital Management LLC now owns 952 shares of the asset manager’s stock valued at $515,000 after buying an additional 372 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of BlackRock by 17.3% in the 1st quarter. Parallel Advisors LLC now owns 1,039 shares of the asset manager’s stock valued at $563,000 after buying an additional 153 shares during the period. 82.80% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:BLK traded down $3.29 during midday trading on Friday, hitting $470.86. The company had a trading volume of 712,008 shares, compared to its average volume of 600,881. BlackRock, Inc. has a 12 month low of $459.39 and a 12 month high of $594.52. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $75.22 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.46 and a beta of 1.55.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.55 by $0.11. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company earned $5.24 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that BlackRock, Inc. will post 27.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 24th. Stockholders of record on Friday, September 7th were given a $3.13 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $2.88. This represents a $12.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, September 6th. BlackRock’s dividend payout ratio (DPR) is currently 55.40%.
Several equities research analysts have recently commented on BLK shares. ValuEngine cut BlackRock from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Citigroup raised BlackRock from a “neutral” rating to a “buy” rating in a research note on Monday, June 18th. JPMorgan Chase & Co. reissued a “focus list” rating and issued a $547.00 target price on shares of BlackRock in a research note on Monday, July 2nd. Morgan Stanley lowered their target price on BlackRock from $624.00 to $607.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Finally, Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price for the company in a research note on Friday, July 13th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $594.08.
In other BlackRock news, Chairman Laurence Fink sold 19,800 shares of BlackRock stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the transaction, the chairman now directly owns 1,098,328 shares in the company, valued at $557,588,175.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William E. Ford bought 1,000 shares of BlackRock stock in a transaction on Thursday, August 2nd. The shares were acquired at an average price of $467.92 per share, for a total transaction of $467,920.00. Following the completion of the acquisition, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,526,768. The disclosure for this purchase can be found here. 1.75% of the stock is owned by company insiders.
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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