BlackRock (BLK) Stock: Why The Price Increased Today

Mar 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.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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