Blackstone said on July 20, 2023 that its board of directors had declared a regular quarterly dividend of $0.79 per share ($3.16 annualized). Previously, the company paid $0.82 per share.
Shares must be purchased before the ex-div date of July 28, 2023 to be eligible for the dividend. Shareholders of record as of July 31, 2023 will receive payment on August 7, 2023.
At the current share price of $104.89/share, the dividend yield of the stock is 3.01%.
Looking back five years and taking a sample each week, the average dividend yield was 4.35%, the low 1.52% and the high 9.38%. The standard deviation of returns is 1.66 (n=236).
The current dividend yield is 0.80 standard deviation below the historical average.
Additionally, the company’s dividend payout ratio is 2.49. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.80%, demonstrating that it has increased its dividend over time.
What is fund sentiment?
There are 2072 funds or institutions reporting positions to Blackstone. This is a decrease of 57 owner(s) or 2.68% in the last quarter. Average portfolio weight of all funds dedicated to BX is 0.54%, a decrease of 3.62%. The total number of shares held by institutions has increased over the past three months by 1.43% to 540,935,000 shares. 
BX’s put/call ratio is 0.89, indicating a bullish outlook.
Analyst price forecast suggests 1.97% drop
As of July 6, 2023, the one-year average price target for Blackstone was 102.83. The forecast ranges from a low of 85.85 to a high of $120.75. The average price target represents a decline of 1.97% from its last reported closing price of 104.89.
Check out our ranking of companies with the biggest upward price target.
Blackstone’s projected annual revenue is 13,032 million, an increase of 95.82%. Projected annual non-GAAP EPS is 5.40.
What are the other shareholders doing?
Capital World Investors holds 32,194,000 shares representing 4.56% ownership of the company. In its previous filing, the company stated that it held 30,412,000 shares, representing a raise of 5.54%. The company increase its portfolio allocation in BX by 21.53% in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 21,997,000 shares representing 3.12% ownership of the company. In its previous filing, the company said it held 21,342,000 shares, representing a raise of 2.98%. The company increase its portfolio allocation in BX by 12.68% in the last quarter.
Capital International Investors holds 21,206,000 shares representing 3.00% ownership of the company. In its previous filing, the company stated that it held 21,203,000 shares, representing a raise by 0.01%. The company increase its portfolio allocation in BX by 13.48% in the last quarter.
Edgewood Management holds 15,283,000 shares representing 2.16% ownership of the company. In its previous filing, the company stated that it holds 11,425,000 shares, representing a raise of 25.24%. The company increase its portfolio allocation in BX by 42.68% in the last quarter.
Wellington Management Group Llp holds 12,609,000 shares representing 1.79% ownership of the company. In its previous filing, the company stated that it holds 15,703,000 shares, representing a decrease of 24.54%. The company decreases its portfolio allocation in BX by 6.04% in the last quarter.
General information about Blackstone
(This description is provided by the company.)
Blackstone is one of the world’s leading investment companies. It seeks to create positive economic impact and long-term value for its investors, the companies in which it invests and the communities in which it works. It does this by using amazing people and flexible capital to help companies solve their problems. its $619 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth capital, lower quality opportunistic credit, real assets and secondary funds, all globally.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.