Crossmark Global Holdings Inc. Has $8.95 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Crossmark Global Holdings Inc. trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% during the third quarter, Holdings Channel.com reports. The firm owned 9,428 shares of the asset manager’s stock after selling 404 shares during the period. Crossmark Global Holdings Inc.’s holdings in BlackRock were worth $8,952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after acquiring an additional 435,358 shares during the period. Ameriprise Financial Inc. boosted its holdings in BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares during the last quarter. Legal & General Group Plc increased its position in BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $1,039.28 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market capitalization of $153.95 billion, a PE ratio of 25.65, a P/E/G ratio of 1.85 and a beta of 1.30. The stock has a 50 day simple moving average of $953.10 and a 200 day simple moving average of $860.88. BlackRock, Inc. has a 52-week low of $650.63 and a 52-week high of $1,057.51.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.91 earnings per share. Sell-side analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BLK shares. Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Barclays upped their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. StockNews.com started coverage on BlackRock in a research report on Tuesday, November 5th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,004.54.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.