BlackRock, Inc. (NYSE:BLK) to Issue Dividend Increase – $5.00 Per Share

BlackRock, Inc. (NYSE:BLKGet Rating) declared a quarterly dividend on Wednesday, January 25th, RTT News reports. Stockholders of record on Tuesday, March 7th will be given 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 dividend yield of 2.66%. This is an increase from BlackRock’s previous quarterly dividend of $4.88.

BlackRock has raised its dividend payment by an average of 13.9% per year over the last three years and has raised its dividend every year for the last 13 years. BlackRock has a dividend payout ratio of 49.1% indicating that 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 Stock Performance

Shares of BLK stock traded down $0.82 during trading hours on Wednesday, reaching $751.25. 1,070,300 shares of the company traded hands, compared to its average volume of 813,256. BlackRock has a 12-month low of $503.12 and a 12-month high of $831.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.03 and a quick ratio of 3.03. The company has a market cap of $112.83 billion, a P/E ratio of 22.15, a P/E/G ratio of 0.78 and a beta of 1.27. The firm has a 50-day moving average price of $722.48 and a 200 day moving average price of $672.85.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 40,960 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $732.25, for a total transaction of $29,992,960.00. Following the transaction, the chief executive officer now owns 508,211 shares of the company’s stock, valued at approximately $372,137,504.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Mark Wiedman sold 1,075 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $749.89, for a total transaction of $806,131.75. Following the transaction, the director now owns 8,682 shares of the company’s stock, valued at approximately $6,510,544.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 40,960 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $732.25, for a total value of $29,992,960.00. Following the transaction, the chief executive officer now owns 508,211 shares of the company’s stock, valued at approximately $372,137,504.75. The disclosure for this sale can be found here. Insiders have sold a total of 61,935 shares of company stock valued at $44,866,323 in the last quarter. 1.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock

A number of large investors have recently bought and sold shares of BLK. Laurel Wealth Advisors Inc. lifted its holdings in shares of BlackRock by 3.2% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 607 shares of the asset manager’s stock worth $464,000 after buying an additional 19 shares during the period. Covestor Ltd raised its position in shares of BlackRock by 56.1% in the 1st quarter. Covestor Ltd now owns 64 shares of the asset manager’s stock worth $49,000 after acquiring an additional 23 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its position in shares of BlackRock by 1.6% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 2,058 shares of the asset manager’s stock worth $1,573,000 after acquiring an additional 33 shares in the last quarter. High Net Worth Advisory Group LLC raised its position in shares of BlackRock by 21.3% in the 1st quarter. High Net Worth Advisory Group LLC now owns 268 shares of the asset manager’s stock worth $205,000 after acquiring an additional 47 shares in the last quarter. Finally, First Commonwealth Financial Corp PA raised its position in shares of BlackRock by 4.4% in the 1st quarter. First Commonwealth Financial Corp PA now owns 1,138 shares of the asset manager’s stock worth $870,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on BlackRock in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. BMO Capital Markets decreased their target price on BlackRock from $495.00 to $481.00 and set a “market perform” rating on the stock in a research note on Friday, October 14th. UBS Group downgraded BlackRock from a “buy” rating to a “neutral” rating and decreased their target price for the company from $700.00 to $585.00 in a research note on Tuesday, October 11th. Bank of America decreased their target price on BlackRock from $821.00 to $813.00 in a research note on Sunday, January 15th. Finally, JPMorgan Chase & Co. decreased their target price on BlackRock from $716.00 to $666.00 and set an “overweight” rating on the stock in a research note on Friday, October 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $738.80.

About BlackRock

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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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