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

Representative Jefferson Shreve (R-Indiana) recently sold shares of BlackRock NYSE: BLK. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $50,001 and $100,000 in BlackRock stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

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

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

BlackRock Stock Up 0.5%

Shares of BlackRock stock traded up $5.11 on Friday, hitting $1,123.48. The company had a trading volume of 516,296 shares, compared to its average volume of 658,464. The stock has a market capitalization of $174.06 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.27 and a beta of 1.41. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,130.66. The stock has a 50 day moving average of $1,027.64 and a 200-day moving average of $976.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $10.36 earnings per share. As a group, sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Analyst Ratings Changes

BLK has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price target on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

Insider Activity at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the transaction, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,352 shares of company stock valued at $55,486,962. Company insiders own 1.98% of the company's stock.

Hedge Funds Weigh In On BlackRock

Several hedge funds have recently made changes to their positions in BLK. GAMMA Investing LLC grew its position in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Norges Bank bought a new stake in BlackRock during the fourth quarter valued at $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in BlackRock by 401.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after buying an additional 876,836 shares during the period. Proficio Capital Partners LLC boosted its stake in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after buying an additional 633,779 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in BlackRock during the fourth quarter valued at $572,730,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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 editor@ballotpedia.org 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.