Hanlon Investment Management Inc. Has $250,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Hanlon Investment Management Inc. cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 244 shares of the asset manager’s stock after selling 17 shares during the quarter. Hanlon Investment Management Inc.’s holdings in BlackRock were worth $250,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC bought a new position in shares of BlackRock in the fourth quarter valued at $26,000. Collier Financial acquired a new position in shares of BlackRock during the 4th quarter worth about $32,000. Compass Planning Associates Inc bought a new stake in shares of BlackRock in the 4th quarter valued at about $33,000. Atwood & Palmer Inc. bought a new position in BlackRock during the fourth quarter worth about $36,000. Finally, West Financial Advisors LLC acquired a new position in BlackRock during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $891.02 on Tuesday. The company has a market cap of $138.33 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a fifty day moving average price of $939.58 and a 200-day moving average price of $987.88.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $9.81 earnings per share. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, March 7th. BlackRock’s payout ratio is currently 49.62%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen reduced their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a report on Monday. Barclays increased their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,077.08.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 430 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. This represents a 10.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 20,430 shares of company stock worth $21,234,629 over the last three months. 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.