BlackRock, Inc. (BLK) Announces $3.13 Quarterly Dividend
BlackRock, Inc. (NYSE:BLK) declared a quarterly dividend on Tuesday, November 20th, RTT News reports. Investors of record on Friday, December 7th will be paid a dividend of 3.13 per share by the asset manager on Wednesday, December 26th. This represents a $12.52 annualized dividend and a yield of 3.11%.
BlackRock has raised its dividend payment by an average of 9.0% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. BlackRock has a payout ratio of 45.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BlackRock to earn $28.38 per share next year, which means the company should continue to be able to cover its $12.52 annual dividend with an expected future payout ratio of 44.1%.
Shares of NYSE:BLK opened at $402.92 on Wednesday. The company has a market capitalization of $64.31 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.22 and a beta of 1.54. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. BlackRock has a one year low of $376.31 and a one year high of $594.52.
Several equities analysts recently commented on the stock. Deutsche Bank dropped their price objective on shares of BlackRock from $458.00 to $444.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Morgan Stanley decreased their price target on shares of BlackRock from $554.00 to $514.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. ValuEngine upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Argus decreased their price target on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Finally, Citigroup decreased their price target on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $554.31.
In other news, Director William E. Ford acquired 2,000 shares of the firm’s stock in a transaction dated Monday, October 22nd. The stock was bought at an average cost of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the transaction, the director now directly owns 9,466 shares in the company, valued at approximately $3,741,057.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.75% of the company’s stock.
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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