BlackRock's Fink Sells More Than 52,000 Shares of FirmAlexis Leondis
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.