BlackRock (NYSE:BLK) Stock Unloaded Rep. Jefferson Shreve

Representative Jefferson Shreve (R-Indiana) recently sold shares of BlackRock, Inc. (NYSE:BLK). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $50,001 and $100,000 in BlackRock stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

BlackRock Stock Performance

Shares of BlackRock stock traded down $4.10 during trading hours on Tuesday, hitting $911.16. 166,644 shares of the company’s stock traded hands, compared to its average volume of 837,218. The stock has a market capitalization of $141.46 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.90 and a beta of 1.29. The company has a fifty day simple moving average of $992.35 and a 200-day simple moving average of $986.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the business posted $9.66 earnings per share. The business’s quarterly revenue was up 22.6% on a year-over-year basis. Equities research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.29%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio is presently 49.62%.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of BlackRock

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Old North State Trust LLC purchased a new stake in shares of BlackRock in the fourth quarter worth $205,000. AG Asset Advisory LLC bought a new stake in BlackRock during the 4th quarter valued at about $360,000. Probity Advisors Inc. lifted its stake in shares of BlackRock by 6.0% in the fourth quarter. Probity Advisors Inc. now owns 756 shares of the asset manager’s stock worth $775,000 after buying an additional 43 shares in the last quarter. Siemens Fonds Invest GmbH increased its position in shares of BlackRock by 1.1% during the fourth quarter. Siemens Fonds Invest GmbH now owns 1,983 shares of the asset manager’s stock valued at $2,033,000 after acquiring an additional 21 shares in the last quarter. Finally, BridgePort Financial Solutions LLC purchased a new position in BlackRock in the 4th quarter worth approximately $647,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped 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, January 13th. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley boosted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group increased their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Finally, StockNews.com began coverage on shares of BlackRock in a report on Wednesday, March 5th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.