Rep. Richard McCormick Unloads BlackRock (NYSE:BLK) Stock

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 Stock Performance

Shares of BLK stock traded down $14.75 during trading on Friday, reaching $1,072.30. 761,031 shares of the company’s stock were exchanged, compared to its average volume of 878,482. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The firm’s fifty day moving average price is $1,033.74 and its 200-day moving average price is $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 stock has a market capitalization of $166.20 billion, a PE ratio of 25.63, a PEG ratio of 1.29 and a beta of 1.43.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.69 by $1.22. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the firm posted $12.05 EPS. As a group, sell-side analysts anticipate that BlackRock will post 54.72 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were issued a dividend of $5.73 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.1%. BlackRock’s payout ratio is presently 57.53%.

Institutional Trading of BlackRock

Several hedge funds and other institutional investors have recently bought and sold shares of BLK. Legal & General Group Plc lifted its position in shares of BlackRock by 0.8% during the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock worth $985,331,000 after buying an additional 7,457 shares during the last quarter. Sarasin & Partners LLP grew its position in BlackRock by 10.6% in the fourth quarter. Sarasin & Partners LLP now owns 251,856 shares of the asset manager’s stock valued at $269,572,000 after acquiring an additional 24,196 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in BlackRock during the third quarter worth about $3,791,000. TCV Trust & Wealth Management Inc. bought a new position in shares of BlackRock in the fourth quarter worth about $20,279,000. Finally, Texas Yale Capital Corp. lifted its holdings in shares of BlackRock by 32.2% in the fourth quarter. Texas Yale Capital Corp. now owns 5,764 shares of the asset manager’s stock worth $6,169,000 after acquiring an additional 1,405 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,389.00 target price on shares of BlackRock in a report on Thursday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,258.00 price target on shares of BlackRock in a report on Thursday. Jefferies Financial Group reduced their price objective 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. BMO Capital Markets upped their target price on BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday. Finally, TD Cowen lowered their target price on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold 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 $1,304.29.

Insider Buying and Selling

In related news, President Robert Kapito sold 8,739 shares of the 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 transaction, the president owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 33,900 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. Company insiders own 1.92% of the company’s stock.

BlackRock News Roundup

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.

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.