BlackRock (BLK) To Go Ex-Dividend on September 8th

BlackRock (NYSE:BLK) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Tuesday, September 8th will be given 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 2.0%. The ex-dividend date is Tuesday, September 8th.

BlackRock has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 16 consecutive years. BlackRock has a dividend payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BlackRock to earn $64.55 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 35.5%.

BlackRock Stock Down 0.4%

Shares of NYSE:BLK opened at $1,121.85 on Friday. The firm has a market capitalization of $173.74 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The firm has a fifty day moving average of $1,092.75 and a 200 day moving average of $1,049.39.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the business posted $12.05 earnings per share. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. As a group, research analysts anticipate that BlackRock will post 55.86 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackRock

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Gibson Capital LLC boosted its stake in shares of BlackRock by 3.4% during the fourth quarter. Gibson Capital LLC now owns 308 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 10 shares during the period. Cornerstone Wealth Management LLC raised its holdings in BlackRock by 4.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $246,000 after buying an additional 10 shares during the last quarter. Great Diamond Partners LLC raised its holdings in BlackRock by 0.4% during the 4th quarter. Great Diamond Partners LLC now owns 2,791 shares of the asset manager’s stock valued at $2,987,000 after buying an additional 10 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in BlackRock by 1.7% during the 4th quarter. Thoroughbred Financial Services LLC now owns 593 shares of the asset manager’s stock valued at $635,000 after buying an additional 10 shares during the period. Finally, Breakwater Capital Group grew its holdings in BlackRock by 3.8% in the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock worth $261,000 after acquiring an additional 10 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

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.