Crossmark Global Holdings Inc. Sells 493 Shares of BlackRock (NYSE:BLK)

Crossmark Global Holdings Inc. decreased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,523 shares of the asset manager's stock after selling 493 shares during the period. Crossmark Global Holdings Inc.'s holdings in BlackRock were worth $7,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IAG Wealth Partners LLC bought a new stake in shares of BlackRock during the 4th quarter valued at $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the 4th quarter valued at $30,000. Fairway Wealth LLC raised its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock during the 1st quarter valued at $31,000. Finally, Curio Wealth LLC bought a new stake in shares of BlackRock during the 4th quarter valued at $41,000. Institutional investors own 80.69% of the company's stock.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent research reports. UBS Group reiterated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday. TD Cowen lowered their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday. Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,132.29.

BlackRock Stock Down 0.1%

NYSE BLK traded down $1.32 on Friday, reaching $1,102.73. The company had a trading volume of 99,256 shares, compared to its average volume of 691,760. The firm has a market capitalization of $170.84 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 3.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,105.72. The company's fifty day moving average is $993.20 and its 200-day moving average is $971.28.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the business posted $9.81 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a dividend of $5.21 per share. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.89%. BlackRock's dividend payout ratio is 50.63%.

BlackRock 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.