2,339 BlackRock $BLK Shares Purchased by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. increased its BlackRock stake by 25% in the third quarter, acquiring 2,339 additional shares and bringing its holdings to 11,695 shares valued at approximately $12.4 million. Institutional investors collectively own 80.69% of BLK.
• Analysts maintain a positive outlook, with BlackRock receiving a consensus “Moderate Buy” rating and an average price target of $1,337.19, despite mixed target-price adjustments from several firms.
• BlackRock’s latest quarterly results exceeded expectations, with EPS of $15.93 versus the $14.32 consensus and revenue of $7.75 billion, up 19.1% year over year. The stock recently traded at $1,135.14, near its 12-month high of $1,187.17.

Oppenheimer & Co. Inc. increased its stake in shares of BlackRock (NYSE:BLK - Free Report) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,695 shares of the asset manager's stock after acquiring an additional 2,339 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in BlackRock were worth $12,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLK. RMG Wealth Management LLC acquired a new position in BlackRock in the first quarter valued at $25,000. Addison Advisors LLC purchased a new position in shares of BlackRock during the second quarter worth about $25,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of BlackRock during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of BlackRock during the second quarter worth about $30,000. Finally, Wilkerson Advisory Group LLC increased its position in shares of BlackRock by 100.0% during the first quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager's stock worth $33,000 after purchasing an additional 17 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BLK. Truist Financial set a $1,310.00 target price on BlackRock in a report on Thursday, October 15th. Bank of America dropped their price target on BlackRock from $1,320.00 to $1,287.00 in a research note on Monday, October 5th. JPMorgan Chase & Co. lifted their price target on BlackRock from $1,435.00 to $1,449.00 and gave the stock an "overweight" rating in a research report on Thursday, October 15th. BMO Capital Markets lifted their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a research report on Monday, October 19th. Finally, Evercore reiterated an "outperform" rating and issued a $1,275.00 price objective (down from $1,300.00) on shares of BlackRock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,337.19.

BlackRock Trading Up 0.7%

BlackRock stock opened at $1,135.14 on Wednesday. The stock has a 50 day moving average of $1,103.33 and a two-hundred day moving average of $1,062.94. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,187.17. The stock has a market capitalization of $175.80 billion, a price-to-earnings ratio of 25.81 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.32 by $1.61. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. The company's revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm posted $8.43 EPS. Equities analysts predict that BlackRock will post 57.82 earnings per share for the current year.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETF, IBIT, attracted approximately $110 million after a run of outflows, coinciding with Bitcoin’s rebound above $80,000. Renewed crypto demand could support fee revenue and sentiment toward BlackRock’s digital-asset platform. Bitcoin Back Above $80K, IBIT Breaks Outflow Spell
• Positive Sentiment: BlackRock is reportedly an anchor investor in a $40 billion SpaceX GPU-leasing arrangement designed to finance AI and cloud infrastructure. The role highlights potential growth in private-market and infrastructure investing as demand for AI capacity accelerates. BlackRock Lands Twin AI Roles
• Positive Sentiment: BlackRock is participating in Envestnet’s white-labeled model-management programs for registered investment advisors and broker-dealers. Wider distribution of BlackRock models could increase assets under management and recurring fee revenue. Envestnet Custom Model Solutions
• Positive Sentiment: BlackRock Japan signed an agreement with SBI Holdings and Startale Group to explore linking tokenized money-market funds with a yen-pegged stablecoin. The initiative could create new distribution and settlement channels for BlackRock’s tokenized products. BlackRock Japan Explores Yen Stablecoin
• Neutral Sentiment: BlackRock filed for a Bitcoin ETF offering downside protection in exchange for capped upside. The product broadens its crypto lineup, although near-term revenue impact and investor demand remain uncertain. BlackRock Announces a New Bitcoin ETF
• Neutral Sentiment: BlackRock Canada announced routine cash distributions for the iShares Premium Money Market ETF, while new fund mandates from iA Financial Group provide additional product distribution but are unlikely to materially affect BLK’s near-term results.

About BlackRock

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.

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