My 4th purchase of the week! Two in each of my dividend growth portfolios.
Early in the week I purchased Ford (F) and Emerson Electric (EMR) for my Dividend Empire portfolio, then I added QCOM to my Dividend Retirement portfolio. I had planned on taking a break for the rest of the week but I saw a great opportunity to pick up a quality dividend growth stock.
I’ve had my eye on BlackRock Inc (BLK) for a while now since it consistently ranks high in my monthly screen. BLK took a big hit on Wednesday and I jumped on it by adding 6 shares to my Dividend Retirement portfolio.
Company overview –
BlackRock, Inc. provides investment management, risk management and advisory services for institutional and retail clients worldwide. Its clients include retail, high net worth and institutional investors, comprised of pension funds, official institutions, endowments, insurance companies, corporations, financial institutions, central banks and sovereign wealth funds. Source – TradeKing
BLK received a score of 7 points out of 10 possible in my recent dividend growth stock ranking screen. Here is the breakdown:
Check out my dividend growth stock ranking system post for details on how these points are assigned.
BLK has a respectable dividend yield of 2.5% but it is the dividend growth rate that really caught my eye. The 5 year dividend growth rate is 19.9% which if maintained would give me a yield on cost over 6% in 2020. The payout ratio is only 44% and BLK has a 6 year streak of raising the annual dividend.
*Projected 2015 dividends
BLK received a max score in the financial strength category. They have a low debt/equity ratio, strong historical and projected earnings growth and a PE ratio below 20.
BLK data by GuruFocus.com
The consensus analyst price target for BLK is $405 which represented a 16.6% margin of safety at the time of analysis. This margin of safety increased to 21% at the time of my purchase. BLK received 0 points for my chart analysis parameter but BLK is now sitting at a nice support level after the recent dip.
BlackRock (BLK) Purchase Details
- Sector: Financials
- Industry: Asset Management
- Purchase date: 7/8/2015
- Portfolio: Dividend Retirement Portfolio
- Shares purchased: 6
- Cost per share: $334.85
- Commissions: $14.95
- Cost basis: $2024.05
- Yield on cost: 2.58%
- Forward income: $52.32
These 6 shares of BLK add $52.32 of forward income to my portfolio, bringing the total up to $1870.66. My portfolio yield on cost is now 3.30%.
It’s been one heck of a week! I made 4 purchases that have added $195.56 worth of forward income to my portfolios – $56.84 in my Empire portfolio and $138.72 in my retirement portfolio. I still have some cash in hand so I’ll be looking for some more deals next week.
My Dividend Retirement portfolio has been updated to reflect the addition of 6 shares of BLK.
What are you thoughts on BLK? Please let me know in the comments section below!
Nice site you have here, well organized and well thought out! Congrats on the purchase I have been looking at it as well! Keep it going and Im sure you will reach your goals,
Cheers,
Pat
Thanks Pat! I like your site as well. Looking forward to following your progress.
Take care,
Ken
Dividend Empire,
Great purchase! BLK pays a great dividend…Keep up the great work!
LOMD
Thanks LOMD – I’ve been eyeing BLK for a while now. Glad to finally get it on a dip.
Ken
I like it! Long BLK myself. Agree that you got a good entry point, I really like it right now too. Suspect it’ll treat us well over the long run.
Thanks Mark! I agree this one will be a keeper for a long time.
Take care,
Ken
Great purchase, Ken. I’m super bullish on investment managers and really like the massive growth that BLK shows. I liked the write up a lot and I can’t wait to see this one grow into a fortune for you
Thank you Ryan. I’ll be adding to this holding on any dips as I’m very bullish as well. Thanks for your support.
Ken
Ken,
Keep cranking out the stock purchases. Awesome work!
I like BLK. I can definitely see myself owning it alongside you. I see it as a complementary holding to my position in TROW, since BLK has far more passive fund exposure.
Enjoy that big boost to your dividend income after those four purchases.
Best regards!
Thanks DM! That was a very exciting week and I’m looking forward to hunting down some more deals.
Take care,
Ken
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