Oppenheimer Asset Management Inc. boosted its position in BlackRock, Inc. (NYSE:BLK) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,340 shares of the asset manager’s stock after purchasing an additional 32 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BlackRock were worth $1,855,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in BLK. Norges Bank acquired a new stake in BlackRock in the fourth quarter valued at approximately $1,092,934,000. Northern Trust Corp lifted its stake in shares of BlackRock by 0.9% in the fourth quarter. Northern Trust Corp now owns 1,666,574 shares of the asset manager’s stock worth $654,663,000 after buying an additional 14,587 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of BlackRock by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock worth $566,150,000 after buying an additional 60,941 shares during the last quarter. Pennsylvania Trust Co lifted its stake in shares of BlackRock by 5,049.8% in the first quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock worth $44,805,000 after buying an additional 1,063,080 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its stake in shares of BlackRock by 114.1% in the fourth quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock worth $228,913,000 after buying an additional 310,623 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.
In related news, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gary Shedlin sold 2,750 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $467.99, for a total value of $1,286,972.50. The disclosure for this sale can be found here. Insiders sold a total of 39,658 shares of company stock worth $18,864,994 over the last quarter. 1.42% of the stock is currently owned by corporate insiders.
NYSE:BLK traded down $2.52 during mid-day trading on Wednesday, reaching $439.14. 284,984 shares of the company were exchanged, compared to its average volume of 590,858. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $557.00. The firm has a market cap of $67.99 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.59 and a beta of 1.44.
BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the company posted $6.48 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 27.78 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. Bank of America reissued a “buy” rating and issued a $498.00 price target (up previously from $490.00) on shares of BlackRock in a report on Friday, March 8th. Deutsche Bank boosted their price target on shares of BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a report on Friday, March 15th. Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Jefferies Financial Group raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 target price on the stock in a report on Tuesday, January 29th. Finally, Barclays upped their target price on shares of BlackRock from $472.00 to $490.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $509.38.
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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.
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