BlackRock, Inc. (NYSE:BLK) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 7.0% in the 2nd quarter, Holdings Channel reports. The fund owned 15,448 shares of the asset manager’s stock after acquiring an additional 1,011 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BlackRock were worth $12,163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BLK. Redmont Wealth Advisors LLC purchased a new stake in BlackRock in the 1st quarter valued at $27,000. Private Wealth Management Group LLC acquired a new stake in BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC purchased a new position in BlackRock during the fourth quarter worth about $28,000. Lam Group Inc. acquired a new position in BlackRock in the 1st quarter valued at about $33,000. Finally, Fairman Group LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $885.73 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $131.20 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The stock’s 50-day moving average is $857.98 and its two-hundred day moving average is $814.47. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the company posted $9.28 earnings per share. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BLK shares. Keefe, Bruyette & Woods upped their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. TD Cowen reduced their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Argus increased their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Barclays boosted their price target on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $902.13.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 in the last ninety days. Insiders own 0.90% of the company’s stock.

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.