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 Performance

BLK opened at $995.02 on Friday. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45. The stock has a market cap of $154.11 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.53 and a beta of 1.28. The business has a 50 day moving average of $1,028.86 and a 200-day moving average of $944.29. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (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 company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm posted $9.66 earnings per share. The business’s revenue was up 22.6% on a year-over-year basis. On average, equities research analysts expect that BlackRock, Inc. will post 43.02 earnings per share for the current year.

BlackRock Announces Dividend

The firm 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 annualized dividend and a yield of 2.05%. BlackRock’s dividend payout ratio is 50.35%.

Analysts Set New Price Targets

Several research firms recently weighed in on BLK. Evercore ISI lifted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays dropped their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,103.33.

Hedge Funds Weigh In On BlackRock

Hedge funds and other institutional investors have recently modified their holdings of the business. FSA Wealth Management LLC bought a new position in shares of BlackRock in the 3rd quarter valued at $26,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock in the 4th quarter valued at $36,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth $31,000. West Financial Advisors LLC bought a new stake in BlackRock during the 4th quarter worth $39,000. Finally, Reston Wealth Management LLC bought a new stake in BlackRock during the 3rd quarter worth $37,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated 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 transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares in the company, 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. 0.90% of the stock is currently owned by corporate 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.