In this article, we will take a look at 5 cash-rich dividend stocks to buy now. If you want to see our analysis of the current market situation and see other top stocks, go to 12 Cash-Rich Dividend Stocks To Buy Now.
5. Blackstone Inc. (NYSE:BX)
Number Of Hedge Fund Holders: 61
Dividend Yield As Of January 20: 6.85%
Market Capitalization: $103.12 billion
Enterprise Value (EV): $81.66 billion
Blackstone Inc. (NYSE:BX) is an American alternative investment management company based in New York City. The company’s private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate.
Piper Sandler analyst Sumeet Mody lowered the price target on Blackstone Inc. (NYSE:BX) to $111 from $114 and kept an Overweight rating on the shares on December 21. The analyst updated his estimates ahead of Q4 earnings to account for flow and market activity alongside realizations and fund closings. Mody predicts softer fundraising and deployment levels to end the year for Blackstone.
Blackstone, Inc. (NYSE:BX) currently pays a quarterly dividend of $1.23 per share and has a dividend yield of 5.81%, as recorded on January 20.
At the end of Q3 2022, 61 hedge funds tracked by Insider Monkey owned stakes in Blackstone Inc. (NYSE:BX), the same as in the previous quarter. These stakes are valued at over $1.3 billion collectively. Farallon Capital was the company’s leading stakeholder in Q3.
Baron Funds mentioned Blackstone Inc. (NYSE:BX) in its Q3 2022 investor letter. Here is what the firm has to say:
“Share We also took advantage of a pullback in stocks to acquire shares of Blackstone Inc. (NYSE:BX), though as mentioned above, our timing could have been better. Blackstone is the largest alternative asset manager in the world with nearly $1 trillion of assets under management (AUM) and $700 billion of fee-earning capital. More importantly, 40% of Blackstone’s AUM is perpetual in nature and 90% of revenue is tied to capital that is perpetual or long term in nature. We have long admired Blackstone due to its strong brand, premier global franchise, loyal investor base, nearly 40-year superior investment track record, and talented executive team anchored by CEO Steve Schwarzman and President Jon Gray.
The company has been at the forefront of new product innovation, and we believe that Blackstone will continue to be the winner against an appealing industry backdrop with durable growth characteristics, underpinned by: i) a large and growing addressable market in alternative investments of $10 trillion today vs. $250 trillion for stocks and bonds; ii) institutions continuing to allocate increasing amounts of capital to alternatives (due to historical lower volatility and higher returns); and iii) the opportunity in the retail/high net worth channel that is less than 5% penetrated (versus approximately 30% for institutions)…” (Click here to read the full text)
