Rep. Richard McCormick Sells Off Shares of BlackRock (NYSE:BLK)

Representative Richard McCormick (Republican-Georgia) recently sold shares of BlackRock (NYSE:BLK). In a filing disclosed on July 09th, the Representative disclosed that they had sold between $1,001 and $15,000 in BlackRock stock on June 12th. The trade occurred in the Representative’s “GROWTH PARTNERS IRA” account.

Representative Richard McCormick also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of Analog Devices (NASDAQ:ADI) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of Cisco Systems (NASDAQ:CSCO) on 6/12/2026.
• Purchased $1,001 – $15,000 in shares of Intercontinental Exchange (NYSE:ICE) on 6/12/2026.
• Purchased $1,001 – $15,000 in shares of L3Harris Technologies (NYSE:LHX) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of American Tower (NYSE:AMT) on 4/17/2026.

BlackRock Trading Down 1.4%

Shares of BlackRock stock traded down $14.75 during trading on Friday, hitting $1,072.30. The stock had a trading volume of 761,031 shares, compared to its average volume of 878,482. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The stock has a 50 day simple moving average of $1,033.74 and a 200 day simple moving average of $1,043.13. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $166.20 billion, a PE ratio of 25.63, a P/E/G ratio of 1.29 and a beta of 1.43.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the firm earned $12.05 EPS. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. On average, research analysts expect that BlackRock will post 54.72 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were given a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is 57.53%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their target price on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. BNP Paribas Exane lifted their price target on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,258.00 price objective on shares of BlackRock in a research note on Thursday. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,275.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Barclays lifted their target price on BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,304.29.

Insider Activity at BlackRock

In other BlackRock news, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the sale, the president directly owned 210,186 shares of the company’s stock, valued at $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.92% of the company’s stock.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reported record second-quarter results, with revenue and earnings beating Wall Street estimates and client assets reaching a new high, highlighting strong operating momentum. Blackrock CEO Says Client Demand Has ‘Never Been Greater’ as Assets Reach Record $15.3 Trillion
• Positive Sentiment: BMO Capital Markets raised its price target on BlackRock to $1,300 and kept an outperform view, while other firms also lifted targets after the earnings beat, signaling rising Street confidence. BlackRock price target raised by BMO Capital Markets
• Positive Sentiment: J.P. Morgan upgraded BlackRock to overweight/buy-equivalent and Bank of America reiterated a buy rating, citing growth opportunities in tokenization, private markets, direct indexing, and automation-led margin expansion. JP Morgan upgrades BlackRock to buy-equivalent after Q2 earnings
• Positive Sentiment: BlackRock’s iShares business surpassed $6 trillion in assets, and Bitcoin ETF inflows continued to support the firm’s fast-growing ETF platform, reinforcing a strong fee-based growth story. BlackRock iShares Surpasses $6 Trillion in Assets
• Neutral Sentiment: Several articles highlighted BlackRock’s expanding ownership stakes in other companies and broader market commentary, but these items are not likely to materially move BLK shares on their own.

Institutional Trading of BlackRock

Institutional investors have recently bought and sold shares of the company. RMG Wealth Management LLC acquired a new stake in shares of BlackRock during the 1st quarter valued at about $25,000. Evolution Wealth Management Inc. acquired a new position in BlackRock in the fourth quarter worth approximately $26,000. Birchbrook Inc. acquired a new position in BlackRock in the fourth quarter worth approximately $31,000. LFA Lugano Financial Advisors SA bought a new position in BlackRock during the fourth quarter valued at approximately $32,000. Finally, Basepoint Wealth LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia’s 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 7th Congressional District. He declared candidacy for the 2026 election.

Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick’s career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.