What was Blackstone's recent dividend increase?
Blackstone increased its quarterly dividend to $1.29 per share, annualized to $5.16, yielding 3.6%.
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Finance / Stocks
Institutional Investors Increase Stakes in Blackstone (BX) as Dividend Rises
Several institutional investors have recently adjusted their positions in Blackstone Inc. (BX), with notable increases in holdings. This activity coincides with Blackstone's increased dividend payout, making the stock attractive to income-s...
Key Insights
- J.W. Cole Advisors Inc. increased its stake by 51.5%, holding 77,009 shares worth $11.52 million.
- Longfellow Investment Management Co. LLC raised its position by 259.8%, now holding 22,160 shares valued at $3.315 million.
- Prudential Financial Inc. boosted its stake by 8.8%, owning 409,390 shares worth $61.24 million.
- Blackstone increased its quarterly dividend to $1.29 per share, resulting in an annualized dividend of $5.16 and a yield of 3.6%. Why does this matter? Increased institutional ownership often signals confidence in the company's future prospects. The dividend increase enhances the stock's appeal, especially in a low-interest-rate environment.
In-Depth Analysis
Blackstone (BX) has seen significant interest from institutional investors. J.W. Cole Advisors Inc. increased its stake by 51.5%, bringing their total holdings to 77,009 shares, valued at $11.52 million. Longfellow Investment Management Co. LLC significantly increased its position by 259.8%, now holding 22,160 shares valued at $3.315 million, representing approximately 0.8% of their portfolio. Prudential Financial Inc. also increased its stake by 8.8%, owning 409,390 shares worth $61.24 million. Blackstone's stock opened at $142.59, with a 50-day moving average of $159.22 and a 200-day moving average of $158.07. The company has a market capitalization of $105.30 billion, a P/E ratio of 40.74, and a beta of 1.76. Recently, Blackstone increased its quarterly dividend to $1.29 per share, or $5.16 annualized, yielding 3.6%. However, its dividend payout ratio is high at 147.43%. Analysts have a consensus rating of "Moderate Buy" with an average target price of $179. Several analysts have updated their price targets, with Jefferies Financial Group decreasing their price target from $199.00 to $187.00. Insider activity includes Joseph Baratta selling 113,000 shares and James Breyer acquiring 13,900 shares. Institutional investors own approximately 70% of Blackstone's stock.
FAQ
What is the analyst consensus rating for Blackstone?
The consensus rating is "Moderate Buy" with an average price target of $179.
Who are some of the institutional investors increasing their positions in Blackstone?
J.W. Cole Advisors Inc., Longfellow Investment Management Co. LLC, and Prudential Financial Inc. have all increased their stakes recently.
Takeaways
- Institutional investors are showing increased confidence in Blackstone (BX).
- Blackstone's dividend increase makes it an attractive option for income-seeking investors.
- Analysts have a generally positive outlook on the stock, with a "Moderate Buy" rating.
Discussion
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Sources
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