Oppenheimer Asset Management Inc. Purchases 51 Shares of BlackRock, Inc. (NYSE:BLK)

Oppenheimer Asset Management Inc. lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,499 shares of the asset manager’s stock after purchasing an additional 51 shares during the period. Oppenheimer Asset Management Inc.’s holdings in BlackRock were worth $14,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its position in shares of BlackRock by 0.3% in the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after acquiring an additional 10 shares during the period. Onyx Bridge Wealth Group LLC boosted its holdings in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC grew its position in shares of BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of BlackRock by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after buying an additional 11 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of BLK opened at $1,030.86 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $152.70 billion, a PE ratio of 25.44, a PEG ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $673.00 and a 12-month high of $1,068.34. The business has a 50-day simple moving average of $959.13 and a two-hundred day simple moving average of $865.58.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business earned $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Barclays raised their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com started coverage on shares of BlackRock in a research report on Wednesday. They issued a “hold” rating for the company. Finally, TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

About BlackRock

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.