BlackRock, Inc. (BLK) Shares Bought by IMS Capital Management
IMS Capital Management raised its position in BlackRock, Inc. (NYSE:BLK) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,230 shares of the asset manager’s stock after buying an additional 295 shares during the period. BlackRock comprises about 1.3% of IMS Capital Management’s portfolio, making the stock its 13th largest holding. IMS Capital Management’s holdings in BlackRock were worth $1,364,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of BLK. Proficio Capital Partners LLC boosted its holdings in BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares during the last quarter. Kings Point Capital Management boosted its holdings in BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in BlackRock in the 1st quarter worth about $108,000. Finally, Financial Architects Inc boosted its holdings in BlackRock by 0.7% in the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after buying an additional 2 shares during the last quarter. Institutional investors own 82.77% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) opened at 421.78 on Tuesday. The company has a 50-day moving average price of $423.93 and a 200-day moving average price of $404.42. The firm has a market capitalization of $68.42 billion, a PE ratio of 20.24 and a beta of 1.71. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.78 EPS. On average, analysts predict that BlackRock, Inc. will post $21.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio is presently 47.98%.
Several research firms recently issued reports on BLK. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. BidaskClub cut BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and set a $440.00 target price on shares of BlackRock in a report on Friday, August 18th. Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Morgan Stanley restated an “overweight” rating and set a $476.00 target price (up from $460.00) on shares of BlackRock in a report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $443.00.
In other news, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.86% of the company’s stock.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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