5 Finance and Investment Stocks to Buy Today According to Israel Englander’s Millennium Management

2. Blackstone Inc. (NYSE:BX)

Millennium Management’s Stake Value: $303 million

Percentage of Millennium Management’s 13F Portfolio: 0.15%

Number of Hedge Fund Holders: 62

Blackstone Inc. (NYSE:BX) is a financial services firm that invests in early stage companies, real estate, corporate private equity, and other areas. It operates globally and is headquartered in New York, New York, United States.

Millennium Management owned 2.3 million Blackstone Inc. (NYSE:BX) shares as part of its Q4 2021 investment portfolio. These were worth $303 million and they represented 0.15% of its total shareholdings. Insider Monkey’s survey of 924 hedge funds for the same time period outlined that 62 had also invested in the company.

As part of its fiscal first quarter results, Blackstone Inc. (NYSE:BX) revealed that it had earned $1.55 in non-GAAP EPS, beating analyst estimates for the metric. Deutsche Bank reduced the company’s price target to $182 from $186 in April 2022, outlining that the company will maintain its lead in some of its key segments.

John Allison’s Unio Capital is Blackstone Inc. (NYSE:BX)’s largest shareholder courtesy of 117,333 shares that are worth $613 million.

Artisan Partners mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:

“Investment heavyweight Blackstone’s virtuous cycle is in full swing. Throughout Blackstone’s history, excellent investment performance and capital protection have allowed the firm to increase fundraising in existing verticals as well as launch new endeavors. Historically, less than 10% of assets under management mature in any given year, and that number should move lower with continued growth in perpetual capital vehicles. Blackstone’s A+ rated balance sheet and capital-light model are the backbone of its 85% of cash flow distribution policy via a variable quarterly dividend. In short, this is a long-duration fee stream and robust capital-raising engine.”