BlackRock (NYSE:BLK – Get Free Report) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Tuesday, September 8th will be paid a dividend of 5.73 per share by the asset manager on Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 8th.
BlackRock has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 16 years. BlackRock has a payout ratio of 45.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect BlackRock to earn $64.15 per share next year, which means the company should continue to be able to cover its $22.92 annual dividend with an expected future payout ratio of 35.7%.
BlackRock Stock Performance
BlackRock stock opened at $1,056.84 on Thursday. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $163.80 billion, a P/E ratio of 25.26, a PEG ratio of 1.17 and a beta of 1.43. The stock’s 50 day moving average is $1,031.34 and its 200 day moving average is $1,042.28.
Insider Transactions at BlackRock
In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the transaction, the president owned 210,186 shares in the company, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is currently owned by insiders.
Institutional Investors Weigh In On BlackRock
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after acquiring an additional 296 shares during the last quarter. Bison Wealth LLC boosted its position in BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 17 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of BlackRock during the 2nd quarter valued at about $259,000. Nebula Research & Development LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at about $548,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of BlackRock during the 2nd quarter valued at about $98,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.
About BlackRock
BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.
In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.
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