Oppenheimer & Co. Inc. Has $9.95 Million Stock Holdings in BlackRock (NYSE:BLK)

Oppenheimer & Co. Inc. reduced its position in shares of BlackRock (NYSE:BLK - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,507 shares of the asset manager's stock after selling 3,478 shares during the period. Oppenheimer & Co. Inc.'s holdings in BlackRock were worth $9,945,000 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. IAG Wealth Partners LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new position in BlackRock in the 4th quarter valued at $30,000. Synergy Investment Management LLC acquired a new position in BlackRock in the 4th quarter valued at $40,000. Curio Wealth LLC acquired a new position in BlackRock in the 4th quarter valued at $41,000. Finally, Cedar Wealth Management LLC acquired a new position in BlackRock in the 4th quarter valued at $43,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays lifted their price target on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Finally, UBS Group decreased their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,096.31.

BlackRock Trading Up 1.8%

BLK traded up $18.20 during midday trading on Tuesday, hitting $1,004.50. 698,654 shares of the company were exchanged, compared to its average volume of 692,070. The firm has a market capitalization of $155.63 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.99 and a beta of 1.41. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,084.22. The firm's 50 day moving average price is $952.76 and its 200-day moving average price is $969.25. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $9.81 EPS. As a group, equities analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's payout ratio is presently 50.63%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the transaction, the director now directly owns 66,034 shares of the company's stock, valued at $56,261,628.34. The trade was a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.98% 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.