BlackRock, Inc. (NYSE:BLK) Increases Dividend to $5.00 Per Share

BlackRock, Inc. (NYSE:BLKGet Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Shareholders of record on Tuesday, March 7th will be paid a dividend of 5.00 per share by the asset manager on Thursday, March 23rd. This represents a $20.00 dividend on an annualized basis and a yield of 2.66%. This is a positive change from BlackRock’s previous quarterly dividend of $4.88.

BlackRock has raised its dividend by an average of 13.9% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. BlackRock has a dividend payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect BlackRock to earn $39.58 per share next year, which means the company should continue to be able to cover its $19.52 annual dividend with an expected future payout ratio of 49.3%.

BlackRock Price Performance

BlackRock stock traded down $0.82 during trading hours on Wednesday, reaching $751.25. 1,070,300 shares of the stock were exchanged, compared to its average volume of 813,256. The company has a market cap of $112.83 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.33. BlackRock has a twelve month low of $503.12 and a twelve month high of $831.32. The stock has a 50 day moving average of $722.48 and a two-hundred day moving average of $672.85.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BLK shares. BMO Capital Markets reduced their price target on shares of BlackRock from $495.00 to $481.00 and set a “market perform” rating on the stock in a research note on Friday, October 14th. Morgan Stanley lifted their target price on shares of BlackRock from $785.00 to $828.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 17th. StockNews.com began coverage on shares of BlackRock in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. The Goldman Sachs Group lifted their target price on shares of BlackRock from $741.00 to $825.00 and gave the stock a “buy” rating in a research report on Wednesday, January 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $642.00 to $846.00 and gave the stock a “buy” rating in a research report on Tuesday, November 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $738.80.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 14,600 shares of BlackRock stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $685.58, for a total transaction of $10,009,468.00. Following the transaction, the chief executive officer now directly owns 549,171 shares of the company’s stock, valued at approximately $376,500,654.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Rachel Lord sold 3,950 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $773.41, for a total value of $3,054,969.50. Following the transaction, the director now directly owns 8,319 shares of the company’s stock, valued at approximately $6,433,997.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 14,600 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $685.58, for a total transaction of $10,009,468.00. Following the completion of the transaction, the chief executive officer now directly owns 549,171 shares in the company, valued at $376,500,654.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,935 shares of company stock worth $44,866,323. 1.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently made changes to their positions in BLK. Fairfield Bush & CO. bought a new stake in BlackRock in the 1st quarter valued at about $115,000. United Bank increased its position in shares of BlackRock by 17.1% during the first quarter. United Bank now owns 1,287 shares of the asset manager’s stock valued at $983,000 after buying an additional 188 shares during the period. Panagora Asset Management Inc. increased its position in shares of BlackRock by 2.6% during the first quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock valued at $1,512,000 after buying an additional 51 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of BlackRock by 35.4% during the first quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock valued at $783,000 after buying an additional 268 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of BlackRock by 11.7% during the first quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock valued at $1,110,000 after buying an additional 152 shares during the period. 77.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Company Profile

(Get Rating)

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Dividend History for BlackRock (NYSE:BLK)

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