BlackRock (BLK) to Issue Quarterly Dividend of $5.73 on June 23rd

BlackRock (NYSE:BLK) declared a quarterly dividend on Wednesday, May 20th. Stockholders of record on Friday, June 5th will be paid a dividend of 5.73 per share by the asset manager on Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th.

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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BlackRock to earn $60.97 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 37.6%.

BlackRock Trading Down 0.1%

Shares of BlackRock stock opened at $1,019.74 on Wednesday. BlackRock has a 52-week low of $917.39 and a 52-week 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’s 50-day simple moving average is $1,030.75 and its 200-day simple moving average is $1,053.05. The firm has a market cap of $158.30 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.42.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the company posted $9.64 earnings per share. BlackRock’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock will post 52.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 33,900 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the sale, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is currently owned by company insiders.

Institutional Trading of BlackRock

Hedge funds have recently bought and sold shares of the company. RMG Wealth Management LLC acquired a new stake in BlackRock in the 1st quarter worth about $25,000. Evolution Wealth Management Inc. acquired a new stake in BlackRock in the 4th quarter worth about $26,000. Birchbrook Inc. acquired a new stake in BlackRock in the 4th quarter worth about $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of BlackRock in the 4th quarter valued at $32,000. Finally, Basepoint Wealth LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $32,000. Institutional investors and hedge funds 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.