J. Richard Kushel, 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 a price of $1,010 each on January 21, 2025. Following this transaction, Kushel directly owns 68,433.34 shares. The transaction took place as BlackRock, with its impressive market capitalization of $157 billion, maintains a strong financial health rating according to InvestPro data.
Additionally, Kushel exercised stock options to acquire 10,000 shares at a price of $513.50 per share. This transaction added $5.135 million to his holdings, which now total 78,433.34 shares. Kushel’s indirect holdings include shares managed by various family trusts. The stock has returned a solid 31.5% over the past year, while continuing its 22-year streak of consistent dividend payments.
These transactions reflect Kushel’s continued management of his ownership interest in BlackRock, a leading investment management firm headquartered in New York. Trading at a P/E ratio of 23.9, InvestPro analysis suggests the stock is currently trading close to fair value. Learn more about BlackRock’s valuation and growth prospects in the full Pro Research Report, available exclusively to InvestingPro subscribers.
Separately, BlackRock CEO Larry Fink has publicly advocated for the tokenization of bonds and stocks, a move that could potentially democratize investing. This follows BlackRock’s impressive earnings report, with adjusted operating earnings per share (EPS) of $11.93, beating both Keefe, Bruyette & Woods (KBW) and consensus estimates. KBW therefore 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 flow strength. The company saw 7% growth in its core costs during this period, with revenue growth of 10.2%.
However, BlackRock also announced the resignation of Mark Wiedman, head of Global Client Business, a significant change to the company’s leadership team. JPMorgan responded to these recent developments by raising BlackRock’s price target while maintaining a neutral stock rating. These are among the recent developments regarding BlackRock.
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