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.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.93 by $0.59. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.76 EPS. On average, research analysts forecast that BlackRock will post 27.82 earnings per share for the current fiscal year.

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.

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About BlackRock

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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Dividend History for BlackRock (NYSE:BLK)

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