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

BlackRock, Inc. (NYSE:BLK) announced a quarterly dividend on Wednesday, July 24th, RTT News reports. Investors of record on Monday, September 9th will be paid a dividend of 5.10 per share by the asset manager on Monday, September 23rd. This represents a $20.40 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, September 9th.

BlackRock has increased its dividend payment by an average of 11.3% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. BlackRock has a payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect BlackRock to earn $45.90 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 44.4%.

BlackRock Stock Performance

Shares of NYSE BLK opened at $866.92 on Friday. The stock has a market cap of $128.82 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.97 and a beta of 1.30. BlackRock has a 12 month low of $596.18 and a 12 month high of $903.46. The company has a 50 day simple moving average of $848.57 and a two-hundred day simple moving average of $811.77. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $9.28 EPS. As a group, analysts predict that BlackRock will post 41.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLK. Barclays initiated coverage on shares of BlackRock in a report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 price target on the stock. TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group lowered their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI boosted their price objective on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $883.13.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Company Profile

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.