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

Posted by Eileen French on Mar 11th, 2025

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 Trading Down 3.4 %

NYSE:BLK opened at $914.87 on Tuesday. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The firm has a 50 day moving average of $992.35 and a 200 day moving average of $986.21. 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 market capitalization of $141.69 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK – Get Free Report) last released 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 firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business earned $9.66 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.28%. BlackRock’s dividend payout ratio is presently 49.62%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the transaction, the director now owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 20,430 shares of company stock worth $21,234,629 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in shares of BlackRock in the third quarter valued at approximately $26,000. IAG Wealth Partners LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $30,000. Collier Financial acquired a new position in BlackRock during the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc acquired a new position in BlackRock during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BLK. Barclays reduced their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. UBS Group lifted their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. StockNews.com began coverage on shares of BlackRock in a research note on Wednesday, March 5th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lifted their target price 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. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

Get Our Latest Stock Report on BLK

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.

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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.

About BlackRock

(Get Free Report)

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.