Citizens & Northern Corp lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 24.0% during the first quarter, Holdings Channel reports. The fund owned 872 shares of the asset manager’s stock after selling 276 shares during the period. Citizens & Northern Corp’s holdings in BlackRock were worth $334,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpha Windward LLC increased its stake in BlackRock by 0.6% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager’s stock valued at $187,000 after buying an additional 3 shares in the last quarter. Eqis Capital Management Inc. increased its stake in BlackRock by 0.5% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock valued at $233,000 after buying an additional 3 shares in the last quarter. JNBA Financial Advisors increased its stake in BlackRock by 0.4% in the first quarter. JNBA Financial Advisors now owns 910 shares of the asset manager’s stock valued at $349,000 after buying an additional 4 shares in the last quarter. Bangor Savings Bank increased its stake in BlackRock by 0.7% in the first quarter. Bangor Savings Bank now owns 1,165 shares of the asset manager’s stock valued at $446,000 after buying an additional 8 shares in the last quarter. Finally, Perkins Coie Trust Co increased its stake in BlackRock by 0.3% in the first quarter. Perkins Coie Trust Co now owns 5,606 shares of the asset manager’s stock valued at $2,150,000 after buying an additional 19 shares in the last quarter. 80.87% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE:BLK) opened at 432.38 on Monday. The company’s 50-day moving average is $410.09 and its 200 day moving average is $390.31. The firm has a market capitalization of $70.42 billion, a PE ratio of 21.24 and a beta of 1.71. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $433.04.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.94 by $0.31. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.86 billion. BlackRock had a net margin of 29.74% and a return on equity of 11.62%. BlackRock’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.25 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post $21.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Monday, June 5th were given a $2.50 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.31%. BlackRock’s payout ratio is presently 49.14%.
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BLK has been the subject of several recent research reports. Deutsche Bank AG reissued a “buy” rating and issued a $441.00 target price (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Bank of America Corporation reissued a “buy” rating and issued a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Jefferies Group LLC reissued a “hold” rating and issued a $387.00 target price on shares of BlackRock in a research report on Wednesday, May 17th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research report on Tuesday, June 20th. Finally, BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $421.36.
In related news, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Mccombe sold 500 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.
BlackRock Company Profile
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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