BlackRock (NYSE:BLK) Shares Acquired Rep. Greg Landsman

Representative Greg Landsman (D-Ohio) recently bought shares of BlackRock, Inc. (NYSE:BLK). In a filing disclosed on January 15th, the Representative disclosed that they had bought between $1,001 and $15,000 in BlackRock stock on December 19th. The trade occurred in the Representative’s “ROCKEFELLER CAPITAL MANAGEMENT (1)” account.

Representative Greg Landsman also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of United Rentals (NYSE:URI) on 12/19/2024.
• Purchased $1,001 – $15,000 in shares of United Rentals (NYSE:URI) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Eli Lilly and Company (NYSE:LLY) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Ameriprise Financial (NYSE:AMP) on 11/8/2024.

BlackRock Stock Performance

NYSE:BLK opened at $995.02 on Friday. The stock has a 50 day simple moving average of $1,028.86 and a 200 day simple moving average of $944.29. The stock has a market cap of $154.11 billion, a P/E ratio of 24.56, a PEG ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the firm earned $9.66 earnings per share. The company’s revenue was up 22.6% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 43.02 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.05%. BlackRock’s dividend payout ratio (DPR) is currently 50.35%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BLK shares. StockNews.com assumed coverage on shares of BlackRock in a report on Thursday. They issued a “hold” rating for the company. Barclays cut their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday. TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Morgan Stanley raised their price target on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $1,103.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BLK. Dimensional Fund Advisors LP increased its position in BlackRock by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 397,641 shares of the asset manager’s stock worth $313,063,000 after purchasing an additional 20,692 shares in the last quarter. One Capital Management LLC increased its holdings in shares of BlackRock by 31.7% during the second quarter. One Capital Management LLC now owns 324 shares of the asset manager’s stock worth $255,000 after buying an additional 78 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of BlackRock by 325.9% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 2,266 shares of the asset manager’s stock valued at $1,784,000 after acquiring an additional 1,734 shares during the last quarter. Luts & Greenleigh Group Inc. acquired a new stake in shares of BlackRock during the 2nd quarter valued at $254,000. Finally, Edgestream Partners L.P. bought a new stake in BlackRock during the 2nd quarter worth $383,000. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

About Representative Landsman

Greg Landsman (Democratic Party) is a member of the U.S. House, representing Ohio’s 1st Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Landsman is also a member of the Cincinnati City Council in Ohio. He assumed office on January 2, 2018. His current term ends on January 1, 2024. Landsman (Democratic Party) is running for re-election to the U.S. House to represent Ohio’s 1st Congressional District. He declared candidacy for the 2024 election. Greg Landsman was born in Cincinnati, Ohio, and lives in Mt. Washington, Ohio. Landsman earned a B.A. in economics and political science from Ohio University and an M.A. in theological studies, religion, and public policy from Harvard University in 2004. His career experience includes working as the executive director of The Strive Partnership with the KnowledgeWorks Foundation and the director of the Ohio Governor’s Office of Faith-Based and Community Initiatives.

BlackRock Company 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.