On August 6, 2024, Laurence Fink, Chairman and Chief Executive Officer of BlackRock Inc (BLK, Financial), sold 29,450 shares of the company, according to a recent SEC Filing. Following this transaction, the insider now owns 343,790 shares of BlackRock Inc.
BlackRock Inc is a global investment management corporation based in New York City. Established in 1988, the company is the world's largest asset manager, with $8.67 trillion in assets under management as of January 2021. BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.
Over the past year, the insider has sold a total of 106,791 shares and has not made any purchases. This recent sale is part of a broader trend observed at BlackRock Inc, where there have been 17 insider sells and no insider buys over the past year.
On the day of the sale, shares of BlackRock Inc were priced at $843.25. This pricing gives the company a market cap of approximately $126.62 billion. The price-earnings ratio of the stock stands at 21.22, which is above both the industry median of 12.07 and the historical median for the company.
According to the GF Value, an intrinsic value estimate used by GuruFocus, BlackRock Inc has a price-to-GF-Value ratio of 1.1, indicating that the stock is modestly overvalued. The GF Value is calculated based on historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of the company’s future performance or stock valuation adjustments.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
