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BlackRock $BLK Shares Sold by State of Michigan Retirement System
The State of Michigan Retirement System reduced its stake in BlackRock (NYSE: BLK) by 4.4% in the fourth quarter, selling 1,800 shares. Meanwhile, BlackRock’s COO and a Director also sold significant shares totaling approximately $61 million. Despite these insider sales, BlackRock reported strong quarterly earnings, beating analyst estimates with $12.53 EPS and $6.70 billion in revenue, leading analysts to maintain a “Moderate Buy” consensus rating with an average target price of $1,269.06.