BlackRock Inc (NYSE: BLK) said on Wednesday that its Board of Directors had authorized a regular quarterly cash dividend of $5.10 per share of common stock.
The dividend was kept unchanged from the previous quarterly dividend payment.
The dividend will be paid on December 23rd to shareholders of record as of the close of business on December 5th 2024, the company said.
Stock Performance
The shares of BlackRock Inc (BLK) closed 0.33% ($3.44) lower at $1,024.67 in New York on Wednesday, as they extended the loss from the previous market session.
The stock has now pulled back 4.09% from its record high price level of $1,068.34, which it registered on November 11th.
The company’s total market cap now stands at $151.782 billion.
The shares of BlackRock Inc (BLK) went up 14.56% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The asset manager’s shares have risen another 26.22% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 13 out of 15 surveyed investment analysts had rated BlackRock Inc’s stock as “Buy”, while 2 – as “Hold”. The median price target on the stock stands at $1,065.07, which translates into a 3.94% upside compared to the closing price on Wednesday.
The high point of the analyst forecast range stands at $1,245.00.
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