IMS Capital Management Sells 197 Shares of BlackRock, Inc. (NYSE:BLK)

IMS Capital Management reduced its position in BlackRock, Inc. (NYSE:BLK) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,421 shares of the asset manager’s stock after selling 197 shares during the quarter. IMS Capital Management’s holdings in BlackRock were worth $1,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock during the 1st quarter worth approximately $27,000. Pineridge Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter worth $28,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the second quarter valued at $31,000. Lam Group Inc. bought a new position in shares of BlackRock in the first quarter worth about $33,000. Finally, Fairman Group LLC purchased a new position in BlackRock in the 4th quarter worth about $35,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by insiders.

BlackRock Stock Performance

BLK stock opened at $949.50 on Tuesday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $952.75. The firm has a market cap of $141.10 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a 50-day simple moving average of $881.47 and a two-hundred day simple moving average of $822.72.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the company posted $9.28 earnings per share. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BLK. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. StockNews.com assumed coverage on BlackRock in a research note on Thursday, September 26th. They issued a “hold” rating on the stock. Evercore ISI lifted their target price on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Morgan Stanley lowered their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, TD Cowen decreased their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $902.13.

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.