BlackRock, Inc. to Issue Quarterly Dividend of $2.50 (BLK)
BlackRock, Inc. (NYSE:BLK) declared a quarterly dividend on Thursday, July 20th, RTT News reports. Investors of record on Tuesday, September 5th will be paid a dividend of 2.50 per share by the asset manager on Friday, September 22nd. This represents a $10.00 annualized dividend and a yield of 2.34%.
BlackRock has increased its dividend by an average of 10.9% annually over the last three years and has raised its dividend every year for the last 7 years. BlackRock has a payout ratio of 45.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect BlackRock to earn $25.12 per share next year, which means the company should continue to be able to cover its $10.00 annual dividend with an expected future payout ratio of 39.8%.
Shares of BlackRock (BLK) traded up 0.03% on Thursday, reaching $426.58. The company had a trading volume of 118,866 shares. The firm’s 50 day moving average is $423.59 and its 200 day moving average is $394.28. BlackRock has a 12 month low of $336.84 and a 12 month high of $442.84. The firm has a market capitalization of $69.48 billion, a PE ratio of 20.48 and a beta of 1.71.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business earned $4.78 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that BlackRock will post $21.90 earnings per share for the current fiscal year.
BLK has been the topic of several research reports. Deutsche Bank AG raised their price objective on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a report on Tuesday, June 20th. Finally, BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $434.93.
In related news, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now directly owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,522 shares of company stock worth $1,458,798. Corporate insiders own 1.86% of the company’s stock.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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