Rep. James Comer Purchases Shares of BlackRock, Inc. (NYSE:BLK)

Representative James Comer (R-Kentucky) recently bought shares of BlackRock, Inc. (NYSE:BLK). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in BlackRock stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/2/2025.

BlackRock Trading Up 0.8 %

NYSE:BLK opened at $962.75 on Wednesday. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The stock’s fifty day moving average price is $1,029.20 and its two-hundred day moving average price is $943.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $149.11 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.92 and a beta of 1.28.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.35%.

Hedge Funds Weigh In On BlackRock

A number of large investors have recently modified their holdings of BLK. Marino Stram & Associates LLC grew its position in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after acquiring an additional 10 shares during the last quarter. Fidelity D & D Bancorp Inc. grew its holdings 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 last quarter. Onyx Bridge Wealth Group LLC grew its holdings in shares of BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the last quarter. Ballentine Partners LLC raised its position in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley upped their target price on shares of BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Citigroup raised their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. StockNews.com initiated coverage on shares of BlackRock in a report on Wednesday, January 8th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,088.67.

Insider Buying and Selling at BlackRock

In other news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

About BlackRock

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.