A Look At Billionaire Julian Robertson’s Top Dividend Picks

#1 Blackstone Group LP (NYSE:BX)

– Shares Owned by Tiger Management (as of September 30): 1.37 Million

– Value of Holding (as of September 30): $43.58 Million

Owing largely to Tiger Management nearly doubling its stake in the company during the third quarter, asset management giant Blackstone Group LP (NYSE:BX) emerged as the fund’s top dividend pick at the end of September. Shares of Blackstone Group LP (NYSE:BX) reached their lifetime high of $43.66 in May, 2015, but volatility in markets across the globe and redemptions from investors has caused it to recede 33% since then.

Blackstone Group LP (NYSE:BX) is not the only asset management firm that has suffered a huge setback in 2015. As we have elaborated in our previous articles, several fund management companies and hedge funds like JANA Partners had a disastrous 2015. Moreover, negative returns and large amount of redemptions by investors during the year has also forced some well-known  funds like Seneca Capital to close their doors.

The company is expected to report its fourth-quarter results at the end of this month and analysts have a consensus EPS estimate of $0.84 on revenue of $1.8 billion, compared to $1.25 and $1.98 billion, respectively, it reported for the same quarter last year. On December 16, analysts at Credit Suisse reiterated their ‘Buy’ rating on the stock, but reduced their price target to $35 from $39, which represents a potential upside of 28% from the stock’s current trading price. Thomas E. Claugus‘ GMT Capital initiated a stake in Blackstone Group LP during the July-September period and disclosed 1.25 million shares of the company in its latest 13F filing.

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