BlackRock, Inc. (BLK) Plans Dividend Increase – $2.88 Per Share

BlackRock, Inc. (NYSE:BLK) declared a quarterly dividend on Friday, January 12th, RTT News reports. Investors of record on Wednesday, March 7th will be paid a dividend of 2.88 per share by the asset manager on Thursday, March 22nd. This represents a $11.52 annualized dividend and a yield of 2.07%. This is an increase from BlackRock’s previous quarterly dividend of $2.50.

BlackRock has increased its dividend by an average of 9.0% annually over the last three years and has raised its dividend every year for the last 8 years. BlackRock has a dividend payout ratio of 44.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect BlackRock to earn $27.36 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 36.5%.

BlackRock (NYSE:BLK) opened at $555.53 on Friday. BlackRock has a twelve month low of $365.83 and a twelve month high of $556.37. The firm has a market cap of $89,070.00, a P/E ratio of 26.01, a P/E/G ratio of 1.48 and a beta of 1.81. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, January 11th. The asset manager reported $6.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the business posted $5.14 earnings per share. BlackRock’s revenue was up 20.0% compared to the same quarter last year. equities analysts predict that BlackRock will post 22.47 EPS for the current fiscal year.

In other BlackRock news, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the sale, the director now owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by corporate insiders.

BLK has been the topic of several analyst reports. Jefferies Group restated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a report on Tuesday, September 26th. Goldman Sachs Group upgraded shares of BlackRock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective on the stock in a report on Tuesday, October 3rd. Morgan Stanley restated an “overweight” rating and issued a $501.00 price objective (up from $476.00) on shares of BlackRock in a report on Thursday, October 5th. Finally, Barclays increased their price objective on shares of BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $510.67.

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About BlackRock

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.

Dividend History for BlackRock (NYSE:BLK)

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