BlackRock, Inc. (NYSE:BLK) declared a quarterly dividend on Thursday, May 21st, RTT News reports. Stockholders of record on Friday, June 5th will be given a dividend of 3.63 per share by the asset manager on Tuesday, June 23rd. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.87%.
BlackRock has raised its dividend payment by an average of 13.2% annually over the last three years and has raised its dividend every year for the last 10 years. BlackRock has a payout ratio of 55.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BlackRock to earn $29.20 per share next year, which means the company should continue to be able to cover its $14.52 annual dividend with an expected future payout ratio of 49.7%.
BLK traded down $2.83 during trading on Thursday, hitting $505.91. The stock had a trading volume of 31,235 shares, compared to its average volume of 2,343,477. The company has a market capitalization of $78.48 billion, a PE ratio of 18.73, a PEG ratio of 1.93 and a beta of 1.28. BlackRock has a twelve month low of $323.98 and a twelve month high of $576.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.08 and a current ratio of 4.08. The stock has a 50 day simple moving average of $473.80 and a two-hundred day simple moving average of $489.10.
A number of research firms have issued reports on BLK. Morgan Stanley raised their price target on shares of BlackRock from $515.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Credit Suisse Group raised their price target on shares of BlackRock from $534.00 to $552.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. UBS Group decreased their price target on shares of BlackRock from $587.00 to $487.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Wells Fargo & Co raised their price target on shares of BlackRock from $495.00 to $530.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, BMO Capital Markets raised their price target on shares of BlackRock from $386.00 to $441.00 and gave the stock a “market perform” rating in a report on Friday, April 17th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $510.91.
In other BlackRock news, CFO Gary Shedlin sold 2,625 shares of BlackRock stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $508.16, for a total value of $1,333,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Robert Kapito sold 88,799 shares of BlackRock stock in a transaction on Friday, April 17th. The shares were sold at an average price of $476.98, for a total transaction of $42,355,347.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,845 shares of company stock valued at $46,894,663. 1.42% of the stock is currently owned by corporate insiders.
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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