BlackRock (NYSE:BLK) Stock 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 Price Performance

BLK traded up $8.51 during midday trading on Friday, hitting $1,004.23. The company had a trading volume of 1,079,196 shares, compared to its average volume of 845,727. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a market capitalization of $155.54 billion, a PE ratio of 24.78, a P/E/G ratio of 1.53 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm's 50-day simple moving average is $1,028.03 and its 200-day simple moving average is $944.64.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts' consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the business posted $9.66 earnings per share. BlackRock's revenue for the quarter was up 22.6% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.03%. BlackRock's dividend payout ratio (DPR) is 50.35%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BLK shares. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating on the stock in a research note on Monday. Barclays cut their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a report on Monday. StockNews.com initiated coverage on shares of BlackRock in a report on Thursday. They set a "hold" rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,103.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager's stock worth $5,681,472,000 after purchasing an additional 42,757 shares during the period. Geode Capital Management LLC increased its stake in BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager's stock worth $2,663,330,000 after purchasing an additional 30,182 shares in the last quarter. FMR LLC raised its holdings in BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager's stock worth $2,244,608,000 after buying an additional 226,135 shares during the period. Fisher Asset Management LLC lifted its stake in BlackRock by 1.9% in the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager's stock valued at $2,081,561,000 after buying an additional 40,865 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager's stock valued at $1,310,762,000 after buying an additional 46,728 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company's stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

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.