Oppenheimer & Co. Inc. Raises Position in BlackRock, Inc. (BLK)
Oppenheimer & Co. Inc. boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,651 shares of the asset manager’s stock after buying an additional 528 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in BlackRock were worth $7,444,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Aperio Group LLC raised its holdings in BlackRock by 8.6% in the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock valued at $30,732,000 after buying an additional 5,451 shares during the last quarter. Everett Harris & Co. CA increased its position in BlackRock by 9.2% during the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock valued at $42,301,000 after purchasing an additional 8,478 shares during the period. Canada Pension Plan Investment Board increased its position in BlackRock by 48.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock valued at $42,960,000 after purchasing an additional 33,400 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new stake in BlackRock during the 3rd quarter valued at approximately $222,000. Finally, Blue Chip Partners Inc. increased its position in BlackRock by 8.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock valued at $5,677,000 after purchasing an additional 1,055 shares during the period. Institutional investors and hedge funds own 82.13% of the company’s stock.
BLK has been the subject of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) raised shares of BlackRock from a “neutral” rating to a “buy” rating and increased their target price for the company from $440.00 to $500.00 in a research report on Thursday, September 28th. Wells Fargo & Company reissued a “market perform” rating and set a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Barclays PLC initiated coverage on shares of BlackRock in a research report on Friday, September 8th. They set an “overweight” rating and a $475.00 target price for the company. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research report on Tuesday, October 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Tuesday, September 26th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $489.08.
In other news, Director J. Richard Kushel sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,875 shares of company stock valued at $2,101,166. Insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (BLK) opened at $478.94 on Friday. The company has a market cap of $76,789.41, a P/E ratio of 22.23, a PEG ratio of 1.65 and a beta of 1.79. BlackRock, Inc. has a 52-week low of $365.83 and a 52-week high of $489.79. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.14 EPS. research analysts expect that BlackRock, Inc. will post 22.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, December 1st. BlackRock’s dividend payout ratio (DPR) is 46.82%.
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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