BlackRock, Inc. (BLK) to Issue Quarterly Dividend of $5.10 on December 23rd

by · The Markets Daily

BlackRock, Inc. (NYSE:BLK – Get Free Report) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Shareholders of record on Thursday, December 5th will be given a dividend of 5.10 per share by the asset manager on Monday, December 23rd. This represents a $20.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, December 5th.

BlackRock has raised its dividend by an average of 11.3% per year over the last three years and has increased its dividend every year for the last 15 years. BlackRock has a payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BlackRock to earn $48.11 per share next year, which means the company should continue to be able to cover its $20.40 annual dividend with an expected future payout ratio of 42.4%.

BlackRock Stock Performance

NYSE BLK opened at $1,032.30 on Friday. The firm’s fifty day moving average price is $981.26 and its two-hundred day moving average price is $877.67. BlackRock has a fifty-two week low of $724.54 and a fifty-two week high of $1,068.34. The stock has a market cap of $159.88 billion, a PE ratio of 25.48, a PEG ratio of 1.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.91 earnings per share. On average, equities analysts expect that BlackRock will post 43.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BLK has been the subject of several research reports. StockNews.com assumed coverage on BlackRock in a research note on Thursday. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group increased their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen upped their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

Check Out Our Latest Stock Report on BLK

BlackRock Company Profile

(Get Free Report)

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.

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