BlackRock (NYSE:BLK) Stock Sold Off Rep. Richard McCormick

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

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

BlackRock Announces Dividend

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

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.

Insiders Place Their Bets

In other BlackRock news, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction 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 document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently bought and sold shares of BLK. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock in the 4th quarter worth about $26,000. RMG Wealth Management LLC purchased a new stake in BlackRock in the first quarter worth approximately $25,000. Birchbrook Inc. bought a new position in BlackRock during the fourth quarter valued at approximately $31,000. Basepoint Wealth LLC purchased a new position in shares of BlackRock during the fourth quarter worth approximately $32,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of BlackRock during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,258.00 price target on shares of BlackRock in a research report on Thursday. 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. Bank of America upped their price target on BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $1,275.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,304.29.

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.