Kesler Norman & Wride LLC Has $7.90 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Kesler Norman & Wride LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,476 shares of the asset manager’s stock after selling 402 shares during the quarter. BlackRock comprises 1.7% of Kesler Norman & Wride LLC’s holdings, making the stock its 10th biggest position. Kesler Norman & Wride LLC’s holdings in BlackRock were worth $7,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC raised its holdings in BlackRock by 22.7% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 736 shares of the asset manager’s stock worth $614,000 after purchasing an additional 136 shares during the last quarter. Teamwork Financial Advisors LLC raised its holdings in BlackRock by 196.0% during the 1st quarter. Teamwork Financial Advisors LLC now owns 2,637 shares of the asset manager’s stock worth $2,199,000 after purchasing an additional 1,746 shares during the last quarter. American National Bank & Trust Co. VA bought a new stake in BlackRock during the 1st quarter worth about $1,078,000. Oak Harvest Investment Services bought a new stake in BlackRock during the 1st quarter worth about $6,735,000. Finally, ZRC Wealth Management LLC grew its position in shares of BlackRock by 48.4% during the 1st quarter. ZRC Wealth Management LLC now owns 138 shares of the asset manager’s stock worth $115,000 after buying an additional 45 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BLK. Morgan Stanley boosted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $915.00 target price on shares of BlackRock in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $844.17.

BlackRock Stock Down 0.0 %

Shares of BLK traded down $0.01 on Thursday, hitting $789.12. The company’s stock had a trading volume of 250,799 shares, compared to its average volume of 506,332. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average price is $780.75 and its 200-day moving average price is $792.72. The firm has a market capitalization of $117.26 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.63 and a beta of 1.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $7.93 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a dividend yield of 2.59%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

BlackRock 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.