BlackRock, Inc. (NYSE:BLK) Shares Sold by Community Bank N.A.

Community Bank N.A. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,805 shares of the asset manager’s stock after selling 85 shares during the quarter. Community Bank N.A.’s holdings in BlackRock were worth $1,465,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Abacus Planning Group Inc. grew its position in BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after buying an additional 13 shares during the period. Everhart Financial Group Inc. grew its position in BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after buying an additional 14 shares during the period. Spreng Capital Management Inc. grew its position in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after buying an additional 14 shares during the period. Inscription Capital LLC grew its position in BlackRock by 1.2% during the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock worth $1,034,000 after buying an additional 15 shares during the period. Finally, ERTS Wealth Advisors LLC grew its position in BlackRock by 2.9% during the fourth quarter. ERTS Wealth Advisors LLC now owns 538 shares of the asset manager’s stock worth $437,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. Insiders have sold a total of 82,511 shares of company stock valued at $66,778,367 over the last quarter. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent analyst reports. UBS Group upped their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Trading Down 0.5 %

Shares of BLK traded down $3.51 on Thursday, hitting $759.29. 274,406 shares of the stock traded hands, compared to its average volume of 625,016. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $113.09 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.59 and a beta of 1.37. The stock’s 50 day moving average is $803.50 and its two-hundred day moving average is $759.33. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.93 earnings per share. As a group, sell-side analysts predict 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.