J. Richard Kushel, Senior Managing Director at BlackRock, Inc. (NYSE: ), recently sold 10,000 shares of the company’s stock, generating 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 holds 68,433.34 shares. The transaction comes as BlackRock, with its market capitalization of an impressive $157 billion, maintains a strong financial performance according to InvestingPro data.
Additionally, Kushel exercised stock options to purchase 10,000 shares at $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 held by various family trusts. The stock has returned a robust 31.5% over the past year, maintaining its 22-year streak of consistent dividend payouts.
These transactions reflect Kushel’s ongoing management of his ownership position in BlackRock, a leading investment management corporation headquartered in New York. Trading at a P/E ratio of 23.9, InvestingPro analysis suggests that the stock is currently trading close to its fair value. Discover more insights on BlackRock’s valuation and growth prospects in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, 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 raised its price target on BlackRock shares and maintained an Outperform rating.
In addition, BlackRock’s strong Q4 2024 performance led to a positive outlook for Citi, highlighting accelerated fee growth and flow strength. The company recorded a 7% increase in basic fees during that period, with revenue growth of 10.2%.
However, BlackRock also announced the resignation of Mark Wiedman, Head of Global Client Operations, a significant change to the firm’s leadership team. JPMorgan responded to these recent developments by raising BlackRock’s price target while maintaining a Neutral rating on the stock. These are among the recent developments concerning BlackRock.
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