BlackRock, Inc. (NYSE:BLK) Announces Quarterly Dividend of $5.21

BlackRock, Inc. (NYSE:BLK) recently declared a quarterly dividend of $5.21, as reported on January 29th. Shareholders who own the stock and are on record as of March 7th will receive this dividend payment on March 24th. This new dividend marks an increase from the previous quarterly payment of $5.10, resulting in an annualized dividend of $20.84 and a yield of 1.98%.

Consistent Dividend Growth

BlackRock has shown a historical trend of increasing its dividend payments. Over the past three years, the company has raised its dividends by an average of 7.3% each year. Notably, it has consistently raised its dividend for 15 consecutive years. The current dividend payout ratio stands at 38.0%, indicating solid earnings coverage for its payouts. Analysts project that BlackRock will earn approximately $53.98 per share next year, suggesting that the company can maintain its dividend payments with an estimated payout ratio of 37.8%.

BlackRock Stock Performance

On the trading day when the dividend announcement was made, BlackRock's stock rose by 0.2%, reaching $1,053.50. During midday trading, about 759,493 shares were exchanged, which was lower than its average trading volume of 801,840 shares. The company's financial indicators are strong, with a current ratio of 5.23, a quick ratio of 5.23, and a debt-to-equity ratio of 0.45. The stock has experienced a 52-week low of $745.55 and a high of $1,082.45. The 50-day moving average price is $1,024.30, while the 200-day moving average is $958.99, and BlackRock has a market capitalization of $163.17 billion along with a price-to-earnings ratio of 25.08.

Recent Earnings Report

BlackRock reported its last earnings on January 15th, where it posted earnings of $11.93 per share for the quarter, exceeding analysts' expectations of $11.52 by $0.41. The firm also reported a return on equity of 16.32% and a net margin of 31.21%. Its quarterly revenue of $5.68 billion surpassed forecasts of $5.57 billion, representing a significant year-over-year increase compared to its previous earnings of $9.66 per share for the same quarter last year. Looking ahead, experts foresee that BlackRock will record earnings of approximately $47.43 per share for the current fiscal period.

Analyst Ratings and Price Targets

Wall Street analysts have provided various insights regarding BlackRock. Goldman Sachs raised their target price from $960.00 to $1,040.00 and recommended a "buy" rating on October 3rd. Meanwhile, Citigroup increased its target price from $1,150.00 to $1,200.00. Deutsche Bank also raised its price target from $1,215.00 to $1,275.00, citing favorable outlooks for the company's stock. Currently, three analysts rate the stock as a hold, while ten analysts recommend buying BlackRock, leading to an average consensus rating of "Moderate Buy" with a target price of around $1,120.67.

Insider Trading Activities

Recent insider trading has seen Director J. Richard Kushel sell 10,000 shares at an average price of $1,010.00, totaling approximately $10.1 million. Following this sale, Kushel retains ownership of 68,433 shares. Additionally, COO Robert L. Goldstein sold 54,000 shares at an average price of $1,046.03, resulting in a transaction valued at about $56.5 million. Combined, insiders have sold 100,190 company shares over the last three months, representing a 0.90% ownership dilution.

Company Overview

BlackRock, Inc. is a publicly traded investment management firm. It caters to a wide range of clients, including institutional investors, intermediary clients, and individual investors. Their clientele includes pension funds, insurance companies, mutual funds, endowments, public institutions, governments, and charities.

BlackRock, Dividend, Stock