Oppenheimer Asset Management Inc. Invests $15.13 Million in BlackRock $BLK

Oppenheimer Asset Management Inc. acquired a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 15,735 shares of the asset manager’s stock, valued at approximately $15,130,000.

A number of other institutional investors also recently bought and sold shares of BLK. Corient Private Wealth LLC grew its holdings in BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares during the period. Norges Bank bought a new position in shares of BlackRock in the fourth quarter worth about $2,742,680,000. Oak Harvest Investment Services raised its stake in shares of BlackRock by 12,176.1% in the fourth quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock worth $1,707,356,000 after buying an additional 1,582,159 shares during the period. Auto Owners Insurance Co lifted its position in shares of BlackRock by 106,934.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock valued at $128,441,000 after buying an additional 1,283,208 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of BlackRock by 200.5% during the 4th quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager’s stock valued at $1,553,194,000 after acquiring an additional 968,245 shares during the period. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,172.20 on Friday. The firm has a market cap of $181.54 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 1.33 and a beta of 1.42. The firm has a fifty day moving average price of $1,053.84 and a 200 day moving average price of $1,043.07. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.05 EPS. As a group, sell-side analysts expect that BlackRock will post 55.63 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is currently 54.78%.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of BlackRock from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. BNP Paribas Exane upped their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Bank of America raised their price objective on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Barclays lifted their target price on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, BlackRock presently has an average rating of “Buy” and an average target price of $1,311.06.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: AI infrastructure financing could create a major growth opportunity. BlackRock is among the financial firms working with Nvidia (NASDAQ: NVDA) and other partners to mobilize more than $500 billion for data centers, GPUs and related infrastructure. The initiative could generate fees from asset management, private credit and structured-finance products while broadening BlackRock’s role beyond traditional investing. NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
• Positive Sentiment: Scale and asset growth remain key strengths. Reports highlight approximately $15.3 trillion in assets under management, a 22% year-over-year AUM increase and improving profit margins. Continued growth in higher-margin ETFs and other products could support earnings and long-term shareholder returns. Larry Fink’s BlackRock Just Crossed $15.3 Trillion in Assets
• Neutral Sentiment: BlackRock-affiliated investors reportedly sold more than $16 million of Bitcoin and Ethereum, while Dartmouth’s holdings in BlackRock’s iShares Bitcoin ETF and other crypto ETFs declined in value. The developments reflect weaker crypto prices and could signal modest pressure on digital-asset flows, but they do not represent a direct sale of BlackRock’s corporate holdings. BlackRock ends the week dumping millions worth of these 2 cryptocurrencies
• Negative Sentiment: Competition is intensifying in ETFs. Corgi Invest plans to challenge BlackRock with a broad, low-fee lineup, while Goldman Sachs’ planned acquisition of NEOS would strengthen a rival Bitcoin income ETF platform.
• Negative Sentiment: Rosen Law Firm is investigating possible securities claims involving BlackRock mutual funds. The announcement is only an investigation—not a filed finding of wrongdoing—but it adds reputational and legal uncertainty. Rosen investor rights investigation

BlackRock Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.