Kesler Norman & Wride LLC raised its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,884 shares of the asset manager's stock after purchasing an additional 578 shares during the quarter. BlackRock accounts for 1.6% of Kesler Norman & Wride LLC's portfolio, making the stock its 11th largest position. Kesler Norman & Wride LLC's holdings in BlackRock were worth $8,412,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. IAG Wealth Partners LLC bought a new position in BlackRock during the 4th quarter worth approximately $26,000. Fairway Wealth LLC lifted its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in shares of BlackRock in the 4th quarter worth approximately $30,000. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $31,000. Finally, Curio Wealth LLC bought a new stake in shares of BlackRock in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 80.69% of the company's stock.
BlackRock Price Performance
Shares of BLK stock traded down $1.42 during mid-day trading on Friday, hitting $1,102.63. 545,380 shares of the stock traded hands, compared to its average volume of 693,726. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,106.39. The firm has a market cap of $170.83 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The company's 50-day simple moving average is $993.20 and its 200-day simple moving average is $971.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34.
BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same period last year, the firm earned $9.81 EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.
BlackRock Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's payout ratio is 50.63%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Bank of America cut their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Barclays raised their price target on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,132.29.
Check Out Our Latest Stock Analysis on BLK
Insider Activity
In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director directly owned 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is owned by insiders.
About BlackRock
(
Free Report)
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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