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

Representative Richard McCormick (Republican-Georgia) recently sold shares of BlackRock (NYSE:BLK). In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in BlackRock stock on July 30th. The trade occurred in the Representative’s “GROWTH PARTNERS ROTH IRA” account.

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

• Sold $1,001 – $15,000 in shares of Medtronic (NYSE:MDT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of L3Harris Technologies (NYSE:LHX) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Intercontinental Exchange (NYSE:ICE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Illinois Tool Works (NYSE:ITW) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 7/30/2026.

BlackRock Price Performance

Shares of BLK traded up $8.74 during mid-day trading on Tuesday, reaching $1,155.85. 56,431 shares of the company’s stock were exchanged, compared to its average volume of 781,486. The company has a 50-day simple moving average of $1,056.94 and a two-hundred day simple moving average of $1,042.81. The company has a market cap of $179.01 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.32 and a beta of 1.42. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the firm earned $12.05 earnings per share. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is 54.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RMG Wealth Management LLC acquired a new stake in shares of BlackRock during the first quarter worth approximately $25,000. Addison Advisors LLC acquired a new stake in BlackRock during the 2nd quarter valued at $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in BlackRock in the 2nd quarter valued at $25,000. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock during the fourth quarter worth $26,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of BlackRock in the second quarter valued at $30,000. 80.69% of the stock is owned by institutional investors.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Jane Street reported more than $1 billion of spot Bitcoin ETF holdings as of June 30, including approximately $828 million in BlackRock’s iShares Bitcoin Trust (IBIT). The disclosure highlights institutional demand for BlackRock’s crypto product, although it is only a historical snapshot and does not indicate Jane Street’s current position. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Cooling inflation and weaker employment data reduced fears of additional Federal Reserve rate hikes. A more supportive rate environment could benefit asset prices, investment flows and fee revenue for BlackRock, whose results are tied heavily to assets under management. 5 ETF Areas of Last Week
• Positive Sentiment: Analyst commentary continues to identify BlackRock as an attractive income and value-oriented investment, citing its dividend, favorable ratings and potential price-target upside. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Neutral Sentiment: BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross.” This supports the technical outlook, but it is a market signal rather than a change in fundamentals. After Golden Cross, BlackRock’s Technical Outlook Is Bright
• Negative Sentiment: A $14 billion Texas data-center campus owned by Meta and BlackRock reportedly faces significant potential losses because insurers may not provide sufficient coverage for catastrophic events. The insurance gap raises concerns about asset protection, financing and lenders’ exposure, weighing on sentiment toward BlackRock’s private-market and infrastructure investments. Meta and BlackRock’s $14bn Data Centre Exposes Lenders to Insurance Gap

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. Evercore reissued an “outperform” rating and set a $1,260.00 target price on shares of BlackRock in a research note on Monday, August 10th. Barclays boosted their price target on BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. BMO Capital Markets upped their price objective on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Zacks Research raised BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $1,311.06.

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.