Rep. Greg Landsman Buys BlackRock, Inc. (NYSE:BLK) Shares

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 Up 0.9 %

BlackRock stock traded up $8.51 during mid-day trading on Friday, reaching $1,004.23. The stock had a trading volume of 1,079,196 shares, compared to its average volume of 610,586. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The stock’s 50-day simple moving average is $1,028.03 and its 200-day simple moving average is $944.64. The firm has a market capitalization of $155.54 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating 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 firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm posted $9.66 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on BlackRock in a report on Thursday. They issued a “hold” rating on the stock. Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley raised their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,103.33.

Insider Activity

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

Institutional Investors Weigh In On BlackRock

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of BlackRock by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 397,641 shares of the asset manager’s stock valued at $313,063,000 after acquiring an additional 20,692 shares during the last quarter. One Capital Management LLC lifted its stake in shares of BlackRock by 31.7% in the 2nd quarter. One Capital Management LLC now owns 324 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 78 shares during 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. bought a new stake in shares of BlackRock in the 2nd quarter valued at about $254,000. Finally, Edgestream Partners L.P. bought a new stake in shares of BlackRock in the 2nd quarter valued at about $383,000. Institutional investors own 80.69% 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.