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

Key Points

• Rep. Richard McCormick sold $1,001–$15,000 of BlackRock shares from his Growth Partners Roth IRA on July 30, along with similarly sized positions in 10 other companies.
• BlackRock reported stronger-than-expected quarterly results, with EPS of $13.91 and revenue of $7.08 billion; revenue rose 30.6% year over year. The company also declared a $5.73 quarterly dividend, equivalent to a 2.0% annual yield.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and $1,311.06 price target, although concerns about insurance gaps tied to a Meta-BlackRock data-center project remain a risk.

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 Trading Down 2.1%

BlackRock stock opened at $1,148.91 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The business's 50-day simple moving average is $1,056.94 and its 200-day simple moving average is $1,042.81. The firm has a market capitalization of $177.93 billion, a PE ratio of 27.46, a PEG ratio of 1.32 and a beta of 1.42. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating the consensus estimate of $12.69 by $1.22. The firm 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 14.90% and a net margin of 24.09%.The firm's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.05 EPS. Equities research analysts forecast that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be given a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock's dividend payout ratio (DPR) is currently 54.78%.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Technical momentum remains favorable. BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross,” which technical analysts view as a bullish signal. After Golden Cross, BlackRock Technical Outlook Is Bright
• Positive Sentiment: Income-investor appeal remains intact. BlackRock is highlighted among dividend-paying financial stocks with favorable analyst ratings and potential price-target upside, which could support demand from yield-focused investors. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Positive Sentiment: Bitcoin ETF demand is a modest supportive factor. Tudor Investment reportedly increased its position in BlackRock’s spot Bitcoin ETF to $22.9 million, reinforcing institutional interest in the product and potentially supporting fee-related asset growth. Tudor Investment Boosts Bitcoin ETF Holdings
• Neutral Sentiment: Valuation comparisons offer no decisive catalyst. A Zacks comparison of BlackRock and Affiliated Managers Group examines which asset manager provides better value, but the article does not establish a clear near-term reason for investors to favor BLK. AMG vs. BLK: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Insurance and financing risks are the main overhang. A roughly $14 billion Texas data-center campus owned by Meta and BlackRock may be significantly underinsured against catastrophic events because insurers are reluctant to provide full coverage. The potential for large uncovered losses could increase lender and investment risk concerns, likely contributing to pressure on BLK. Meta and BlackRock’s Data Centre Exposes Lenders to Insurance Gap

Institutional Trading of BlackRock

Several institutional investors have recently made changes to their positions in BLK. First Bancorp Inc ME lifted its stake in BlackRock by 2.9% during the fourth quarter. First Bancorp Inc ME now owns 321 shares of the asset manager's stock worth $344,000 after purchasing an additional 9 shares during the period. Rather & Kittrell Inc. grew its stake in shares of BlackRock by 2.1% in the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager's stock valued at $461,000 after purchasing an additional 9 shares during the period. Oakworth Capital Inc. raised its holdings in shares of BlackRock by 1.2% in the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager's stock worth $808,000 after buying an additional 9 shares in the last quarter. Strid Group LLC raised its holdings in shares of BlackRock by 1.1% in the 4th quarter. Strid Group LLC now owns 949 shares of the asset manager's stock worth $1,016,000 after buying an additional 10 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of BlackRock by 5.0% during the 4th quarter. McIlrath & Eck LLC now owns 212 shares of the asset manager's stock worth $227,000 after buying an additional 10 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLK. Weiss Ratings lowered BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. upgraded shares of BlackRock from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. BMO Capital Markets upped their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $1,389.00 price target on shares of BlackRock in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, BlackRock has an average rating of "Buy" and a consensus 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.

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