Argent Capital Management LLC Has $26.78 Million Position in BlackRock, Inc. (NYSE:BLK)

Argent Capital Management LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,205 shares of the asset manager's stock after selling 646 shares during the period. Argent Capital Management LLC's holdings in BlackRock were worth $26,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Axxcess Wealth Management LLC increased its holdings in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager's stock worth $3,945,000 after buying an additional 1,248 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of BlackRock by 3.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager's stock valued at $322,810,000 after purchasing an additional 14,477 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in shares of BlackRock in the first quarter valued at approximately $6,735,000. Cetera Investment Advisers increased its holdings in shares of BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager's stock valued at $36,737,000 after purchasing an additional 30,274 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of BlackRock in the first quarter valued at approximately $161,918,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Trading Down 0.4 %

Shares of NYSE BLK traded down $4.16 during midday trading on Thursday, reaching $984.00. 350,341 shares of the stock were exchanged, compared to its average volume of 574,437. The business has a 50-day simple moving average of $924.23 and a two-hundred day simple moving average of $841.60. The company has a market capitalization of $146.22 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts' consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business's quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $10.91 earnings per share. As a group, equities research analysts expect that BlackRock, Inc. will post 41.73 EPS for the current year.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares of the company's stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the business's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company's stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research reports. StockNews.com initiated coverage on shares of BlackRock in a report on Sunday. They issued a "hold" rating for the company. Evercore ISI raised their price target on shares of BlackRock from $995.00 to $1,040.00 and gave the company an "outperform" rating in a report on Monday, October 14th. TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a report on Thursday, October 10th. The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Finally, UBS Group reduced their price objective on shares of BlackRock from $842.00 to $837.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $995.31.

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.