5 Best Dividend Growth Stocks to Buy Now

4. BlackRock, Inc. (NYSE:BLK)

Years of Consistent Dividend Growth: 13
5-Year Compound Average Dividend Growth Rate: 14.3%

BlackRock, Inc. (NYSE:BLK) is an American investment management company that specializes in risk management and fixed-income institutional services. Though the company missed analysts’ estimates on various accounts in the second quarter, the company’s cash flow remained strong. It generated over $1.64 billion in operating cash flow and its free cash flow came in at $1.52 billion. The company’s assets under management stood at $8.49 trillion, down from $9 trillion in the previous quarter.

On July 13, BlackRock, Inc. (NYSE:BLK) declared a quarterly dividend of $4.88 per share, in line with its previous dividend. The company holds a 13-year track record of consistent dividend growth. The companies’ shares yield at 3.39%, as recorded on September 25.

In August, Deutsche Bank raised its price target on BlackRock, Inc. (NYSE:BLK) to $860 with a Buy rating on the shares, highlighting the company’s recent quarterly earnings and its solid fundamentals.

Of the 895 elite funds tracked by Insider Monkey, 50 hedge funds owned stakes in BlackRock, Inc. (NYSE:BLK) in Q2 2022, up from 49 in the previous quarter. These stakes hold a collective value of over $1.56 billion. Harris Associates was the company’s leading stakeholder in Q2.

Carillon Tower Advisers mentioned BlackRock, Inc. (NYSE:BLK) in its Q1 2022 investor letter. Here is what the firm has to say:

“BlackRock (NYSE:BLK) shares underperformed due to a decline in equity market performance. As a reminder, market weakness typically drives assets under management lower, which in turn leads to lower revenues.”