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

Bridges Investment Management Inc. decreased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,733 shares of the asset manager's stock after selling 865 shares during the quarter. BlackRock makes up 1.2% of Bridges Investment Management Inc.'s holdings, making the stock its 24th biggest position. Bridges Investment Management Inc. owned about 0.06% of BlackRock worth $83,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Brighton Jones LLC lifted its position in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after acquiring an additional 296 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in BlackRock by 35.4% during the 4th quarter. Proficio Capital Partners LLC now owns 619 shares of the asset manager's stock worth $634,000 after purchasing an additional 162 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in BlackRock by 9.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,276 shares of the asset manager's stock valued at $20,785,000 after purchasing an additional 1,693 shares during the period. Independent Advisor Alliance grew its holdings in BlackRock by 28.1% in the 4th quarter. Independent Advisor Alliance now owns 3,483 shares of the asset manager's stock valued at $3,570,000 after buying an additional 764 shares in the last quarter. Finally, Davis R M Inc. bought a new position in BlackRock during the 4th quarter worth $1,062,000. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Up 1.3%

Shares of NYSE:BLK traded up $14.41 during midday trading on Thursday, hitting $1,103.16. 204,921 shares of the stock were exchanged, compared to its average volume of 692,380. The business's 50-day moving average price is $989.46 and its 200 day moving average price is $970.84. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,104.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The stock has a market capitalization of $170.91 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 3.20 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $9.81 EPS. Analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.89%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Analyst Ratings Changes

A number of research firms recently commented on BLK. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday. Bank of America cut their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company restated an "overweight" rating on shares of BlackRock in a research note on Tuesday. Argus reiterated a "buy" rating on shares of BlackRock in a research report on Tuesday. Finally, Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus target price of $1,132.29.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director owned 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.98% of the company's stock.

About BlackRock

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.