BlackRock’s top managing director sells $10.1 million worth of shares by Investing.com

J. Richard Kuchel, Senior Managing Director of BlackRock, Inc. (NYSE:), recently sold 10,000 shares of the company’s common stock, raising a total of $10.1 million. The shares were sold at $1,010 per share on January 21, 2025. Following this transaction, Kushel has 68,433.34 shares outright. This transaction occurred at a time when BlackRock, with its impressive market capitalization of $157 billion, maintains a strong degree of financial health according to… InvestingPro Data.

In addition, Kushel exercised stock options to acquire 10,000 shares at a price of $513.50 per share. This deal added $5.135 million to his holdings, which now total 78,433.34 shares. Kuchel’s indirect holdings include stocks managed through various family trusts. The stock has returned a solid 31.5% over the past year, maintaining its 22-year plan of consistent dividend payments.

These transactions reflect Kuchel’s continued management of his position in shares of BlackRock, a leading New York-based investment management firm. Trading at a price-to-earnings ratio of 23.9, InvestingPro The analysis indicates that the stock is currently trading near its fair value. Discover more insights into BlackRock’s valuation and growth prospects in Pro Research’s comprehensive report, available exclusively to InvestingPro subscribers.

In other recent news, BlackRock CEO Larry Fink has publicly called for the tokenization of bonds and stocks, a move that could democratize investing. This follows BlackRock’s impressive earnings report, where adjusted operating earnings per share (EPS) came in at $11.93, beating Keefe, Bruyette & Woods (KBW) and consensus estimates. Consequently, KBW increased its price target on BlackRock shares and maintained an Outperform rating.

Additionally, BlackRock’s strong performance in Q4 2024 led to a positive outlook from Citi, highlighting accelerating fee growth and streaming strength. The company saw 7% growth in base fees during the period, with revenue growing 10.2%.

However, BlackRock also announced the resignation of Mark Weidman, head of its global client business, a significant change in the company’s leadership team. JPMorgan responded to these latest developments by raising its price target for BlackRock while maintaining a neutral rating on the stock. These are among the latest developments related to BlackRock.

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