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BlackRock (BLK) Stock: Why The Price Increased TodayMar 28th, 2022 13:19 EST
- The stock price of BlackRock, Inc. (NYSE: BLK) increased by 1.9% during intraday trading today. This is why.
The stock price of BlackRock, Inc. (NYSE: BLK) increased by 1.9% during intraday trading today. Investors are responding positively to American International Group (AIG) announcing that BlackRock will manage $60 billion of its investment portfolio and up to $90 billion of assets on behalf of the insurer’s life and retirement business.
In July, AIG sold a 9.9% equity stake in its life and retirement business to Blackstone for $2.2 billion. And AIG has been considering spinning off the business through an IPO.
BlackRock’s Aladdin platform is going to provide investment management technology for AIG and its life and retirement unit.
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