J. Richard Kushel, Senior Managing Director of BlackRock, Inc. (NYSE:), recently sold 10,000 shares of the company’s common stock, which raised a total of $10.1 million. The shares were sold at a price of $1,010 each on January 21, 2025. After this transaction, Kushel held 68,433.34 shares directly. The transaction comes as BlackRock, with its impressive $157 billion market capitalization, maintains a strong financial health score according to InvestingPro data.

In addition, 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 assets include shares held through various family trusts. The stock delivered a solid 31.5% return last year, while maintaining a 22-year streak of consistent dividend payments.

These transactions reflect Kushel’s continued management of his equity position at BlackRock, a leading investment management corporation located in New York. Trading at a P/E ratio of 23.9, InvestingPro The analysis suggests that the stock is currently trading close to its Fair Value. Discover more insights about BlackRock’s valuation and growth in the comprehensive Pro Research Report, available only to InvestingPro subscribers.

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

In addition, BlackRock’s strong performance in the fourth quarter of 2024 led to a positive outlook from Citi, which highlighted the acceleration of fee growth and strong cash flows. The company experienced 7% growth in base fees 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 in the company’s leadership team. JPMorgan responded to these recent developments by raising BlackRock’s price target while maintaining a Neutral stock rating. This is one of the new developments regarding BlackRock.

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