Argonautica Private Wealth Management Inc. Sells 72 Shares of BlackRock, Inc. (NYSE:BLK)

Argonautica Private Wealth Management Inc. cut its stake in BlackRock, Inc. (NYSE:BLK) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 5,941 shares of the asset manager’s stock after selling 72 shares during the period. BlackRock comprises 2.0% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 6th largest position. Argonautica Private Wealth Management Inc.’s holdings in BlackRock were worth $4,823,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Fiduciary Investment Counsel Inc. grew its position in shares of BlackRock by 3.2% during the fourth quarter. First Fiduciary Investment Counsel Inc. now owns 19,116 shares of the asset manager’s stock worth $15,518,000 after acquiring an additional 594 shares during the last quarter. Abbrea Capital LLC lifted its holdings in BlackRock by 9.5% in the 4th quarter. Abbrea Capital LLC now owns 1,615 shares of the asset manager’s stock valued at $1,311,000 after acquiring an additional 140 shares during the last quarter. Syon Capital LLC lifted its holdings in BlackRock by 28.7% in the 4th quarter. Syon Capital LLC now owns 1,511 shares of the asset manager’s stock valued at $1,226,000 after acquiring an additional 337 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in BlackRock by 3.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,237 shares of the asset manager’s stock valued at $2,628,000 after acquiring an additional 123 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its holdings in BlackRock by 5.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 9,527 shares of the asset manager’s stock valued at $7,734,000 after acquiring an additional 505 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock 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 transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Marc D. Comerchero sold 450 shares of the company’s 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 sale, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on 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 owns 414,146 shares in the company, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock valued at $66,778,367 in the last quarter. 0.90% of the stock is currently owned by insiders.

BlackRock Trading Up 0.7 %

NYSE:BLK traded up $5.23 on Friday, hitting $762.88. 447,939 shares of the stock were exchanged, compared to its average volume of 683,111. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The company’s 50-day moving average price is $802.08 and its 200 day moving average price is $760.15. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The stock has a market capitalization of $113.62 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued 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. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the firm earned $7.93 EPS. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

BlackRock 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.