Community Bank N.A. Sells 85 Shares of BlackRock, Inc. (NYSE:BLK)

Community Bank N.A. decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,805 shares of the asset manager’s stock after selling 85 shares during the period. Community Bank N.A.’s holdings in BlackRock were worth $1,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. International Assets Investment Management LLC raised its position in shares of BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after acquiring an additional 641,128 shares in the last quarter. FMR LLC raised its position in shares of BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after acquiring an additional 379,631 shares in the last quarter. Invesco Ltd. raised its position in shares of BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after acquiring an additional 340,792 shares in the last quarter. Wellington Management Group LLP raised its position in shares of BlackRock by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after acquiring an additional 307,516 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of BlackRock by 24.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock worth $461,446,000 after acquiring an additional 139,570 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of analyst reports. UBS Group raised their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,511 shares of company stock worth $66,778,367. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.5 %

Shares of BlackRock stock traded down $3.51 on Thursday, reaching $759.29. The company’s stock had a trading volume of 274,406 shares, compared to its average volume of 625,016. The company has a market capitalization of $113.09 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.59 and a beta of 1.37. The firm’s fifty day simple moving average is $803.50 and its two-hundred day simple moving average is $759.33. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the company posted $7.93 earnings per share. BlackRock’s revenue was up 11.4% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current year.

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.