Bridges Investment Management Inc. Sells 865 Shares of BlackRock (NYSE:BLK)

Bridges Investment Management Inc. cut its position in shares of BlackRock (NYSE:BLK - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 87,733 shares of the asset manager's stock after selling 865 shares during the quarter. BlackRock accounts for 1.2% of Bridges Investment Management Inc.'s portfolio, making the stock its 24th largest position. Bridges Investment Management Inc. owned about 0.06% of BlackRock worth $83,038,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BLK. IAG Wealth Partners LLC acquired a new position in shares of BlackRock in the fourth quarter worth about $26,000. Fairway Wealth LLC lifted its stake in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock in the 4th quarter valued at $30,000. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the 1st quarter valued at about $31,000. Finally, Curio Wealth LLC bought a new position in shares of BlackRock in the fourth quarter valued at approximately $41,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by insiders.

BlackRock Price Performance

Shares of BLK stock traded up $12.09 on Wednesday, reaching $1,087.11. The company had a trading volume of 337,410 shares, compared to its average volume of 694,285. The business's 50-day moving average is $986.01 and its 200 day moving average is $970.03. BlackRock has a one year low of $773.74 and a one year high of $1,088.28. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $168.43 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.92%. BlackRock's dividend payout ratio is presently 50.63%.

Analysts Set New Price Targets

BLK has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a report on Tuesday. Argus reaffirmed a "buy" rating on shares of BlackRock in a research note on Tuesday. Finally, Barclays upped their price objective on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and an average price target of $1,108.62.

BlackRock 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.