BlackRock Inc. Chief Executive Officer Larry disposed of 41,706 shares — about 5% of his stake in the business — at an average price of $580.29 on July 21, according to a regulatory filing. The filings didn’t indicate that his sales this year were made under a pre-scheduled trading plan.The latest disposal comes as corporate insiders, whose buying accurately signaled the market bottom in March, are now mostly sellers.
“For our economy to be fully operational again it can’t be this bipolar economy,” the CEO said. “There’s been a lot of healing, and that’s what the market is reflecting, but there’s still a great component of our economy that hasn’t healed and is still struggling.” BlackRock shares have jumped 16% this year and the company reported this month a rebound in flows to products such as mutual funds and exchange-traded funds.
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