Bridges Investment Management Inc. Decreases Stock Holdings in BlackRock $BLK

Key Points

• Bridges Investment Management cut its BlackRock stake by 7.8% in the fourth quarter, selling 6,714 shares and leaving it with 79,621 shares worth about $85.2 million.
• Institutional ownership remains very high, with large investors like Vanguard, Geode Capital, and Norges Bank adding to or building positions, and hedge funds/other institutions holding 80.69% of BlackRock stock.
• BlackRock insiders also sold shares: President Robert Kapito and CEO Laurence Fink both reduced their holdings in late April, even as analysts maintained a mostly positive outlook with a consensus “Moderate Buy” rating and an average price target of $1,269.06.

Bridges Investment Management Inc. reduced its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,621 shares of the asset manager's stock after selling 6,714 shares during the quarter. BlackRock accounts for 1.1% of Bridges Investment Management Inc.'s portfolio, making the stock its 27th largest position. Bridges Investment Management Inc. owned about 0.05% of BlackRock worth $85,222,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager's stock valued at $15,051,846,000 after purchasing an additional 221,123 shares during the period. Geode Capital Management LLC raised its holdings in BlackRock by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,167,460 shares of the asset manager's stock valued at $3,374,394,000 after acquiring an additional 27,640 shares in the last quarter. Norges Bank acquired a new stake in BlackRock in the fourth quarter valued at $2,742,680,000. Capital International Investors raised its holdings in BlackRock by 0.6% in the third quarter. Capital International Investors now owns 1,841,088 shares of the asset manager's stock valued at $2,146,663,000 after acquiring an additional 10,591 shares in the last quarter. Finally, Oak Harvest Investment Services raised its holdings in BlackRock by 12,176.1% in the fourth quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager's stock valued at $1,707,356,000 after acquiring an additional 1,582,159 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In other news, 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 value of $9,233,627.40. Following the transaction, the president owned 210,186 shares of the company's stock, valued at $222,082,527.60. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer directly owned 230,516 shares in the company, valued at $242,168,583.80. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.92% of the company's stock.

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

Analyst Ratings Changes

Several research firms recently issued reports on BLK. Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $1,150.00 to $1,240.00 and gave the company an "outperform" rating in a report on Wednesday, April 15th. CICC Research increased their target price on shares of BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. Morgan Stanley increased their target price 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. BMO Capital Markets increased their target price on shares of BlackRock from $1,200.00 to $1,250.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating on the stock in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,269.06.

BlackRock Stock Down 0.1%

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

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, topping analysts' consensus estimates of $12.40 by $0.13. The company had revenue of $6.70 billion for 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 firm's revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company earned $9.64 earnings per share. Equities analysts anticipate that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

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

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.

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