Rep. Jefferson Shreve Sells Off Shares of BlackRock, Inc. (NYSE:BLK)

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 Price Performance

BLK stock traded down $1.13 on Tuesday, reaching $914.14. 400,469 shares of the company’s stock were exchanged, compared to its average volume of 842,907. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average of $992.35 and a 200-day moving average of $986.21. The firm has a market cap of $141.92 billion, a PE ratio of 21.75, a P/E/G ratio of 1.90 and a beta of 1.29.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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 net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the company posted $9.66 EPS. The company’s revenue was up 22.6% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is currently 49.62%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 20,430 shares of company stock worth $21,234,629. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fidelity D & D Bancorp Inc. increased its position in shares of BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 10 shares during the period. Princeton Global Asset Management LLC boosted its holdings in BlackRock by 8.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after buying an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of BlackRock by 0.8% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after acquiring an additional 10 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after purchasing an additional 10 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of BlackRock by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after acquiring an additional 11 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BLK shares. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. 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 report on Thursday, January 16th. Barclays dropped their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Citigroup increased their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.