Citizens & Northern Corp Has $1.15 Million Position in BlackRock, Inc. (NYSE:BLK)

Citizens & Northern Corp cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,421 shares of the asset manager’s stock after selling 50 shares during the quarter. Citizens & Northern Corp’s holdings in BlackRock were worth $1,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FineMark National Bank & Trust lifted its stake in shares of BlackRock by 6.4% during the fourth quarter. FineMark National Bank & Trust now owns 25,263 shares of the asset manager’s stock valued at $20,509,000 after acquiring an additional 1,509 shares during the period. Commerce Bank increased its stake in BlackRock by 38.8% in the fourth quarter. Commerce Bank now owns 34,643 shares of the asset manager’s stock valued at $28,123,000 after purchasing an additional 9,690 shares in the last quarter. Banco de Sabadell S.A raised its holdings in BlackRock by 1.8% in the fourth quarter. Banco de Sabadell S.A now owns 3,056 shares of the asset manager’s stock worth $2,483,000 after purchasing an additional 53 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of BlackRock by 44.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 247 shares of the asset manager’s stock worth $201,000 after purchasing an additional 76 shares in the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $91,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 2.0 %

Shares of NYSE:BLK traded down $15.69 during midday trading on Thursday, hitting $783.92. 362,251 shares of the stock were exchanged, compared to its average volume of 605,926. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The stock has a market capitalization of $116.49 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 1.66 and a beta of 1.37. The business’s 50-day moving average price is $790.87 and its 200 day moving average price is $781.51.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share 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 analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.93 EPS. Analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, June 6th. BlackRock’s payout ratio is 51.84%.

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, UBS Group raised their price target 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the company’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 transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other BlackRock news, 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 107,015 shares of company stock worth $86,751,357 in the last quarter. Insiders own 0.90% of the company’s stock.

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.