IMS Capital Management Invests $1.35 Million in BlackRock $BLK

Key Points

• IMS Capital Management has acquired a new stake in BlackRock, purchasing 1,289 shares valued at approximately $1.35 million in the second quarter.
• BlackRock reported $12.05 earnings per share for the last quarter, exceeding estimates by $1.64, with a revenue of $5.42 billion.
• BlackRock recently declared a quarterly dividend of $5.21 per share, resulting in an annualized dividend of $20.84 and a yield of 1.8%.

IMS Capital Management purchased a new stake in BlackRock (NYSE:BLK - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,289 shares of the asset manager's stock, valued at approximately $1,352,000.

Other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its position in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after acquiring an additional 15 shares in the last quarter. Garde Capital Inc. increased its holdings in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after purchasing an additional 18 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in shares of BlackRock in the first quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

NYSE BLK opened at $1,131.86 on Wednesday. The company has a market capitalization of $175.27 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The company has a 50-day simple moving average of $1,121.97 and a 200 day simple moving average of $1,015.69.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $10.36 EPS. On average, research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio is currently 50.39%.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares of the company's stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares of the company's stock, valued at $21,617,148. This represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last 90 days. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLK. UBS Group reiterated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company cut their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Finally, Jefferies Financial Group increased their price objective on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,154.07.

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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