BlackRock Inc.’s Laurence D. Fink, chief executive officer of the world’s largest asset manager, sold 52,616 shares of the firm, according to a regulatory filing.
Fink, who co-founded BlackRock in 1988, sold 3,666 shares on average valued at $286.08 and 48,950 shares valued at $285, the New York-based firm said today in a filing with the U.S. Securities and Exchange Commission. He still holds 1.28 million shares, the filing shows, with a market value of about $357 million, based on today’s closing price of $279.20.
Fink, 60, is also chairman of BlackRock, which manages $3.94 trillion in assets. The stock increased 35 percent this year, compared with the 26 percent gain in the Standard & Poor’s 20-member index of custody banks and asset managers. Brian Beades, a spokesman for BlackRock, declined to comment on the filing.