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Is Blackstone Inc (NYSE:BX) the Best Financial Dividend Stock Insiders are Buying in 2024?

Insider Monkey has been scouring insider trades this year to see which stocks are seeing increased interest from corporate officers. Amid the market’s broader shift towards defensive, safe stocks that also pay dividends, we saw that insiders are flocking to buy financial and bank dividend stocks like JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), Citigroup Inc. (NYSE:C). We covered these transactions and some of the best financial dividend stocks insiders are buying recently in a separate article.

Blackstone Inc (NYSE:BX), being an alternative investment management giant with $155 billion market cap, deserves special attention and analysis.

Blackstone Inc (NYSE:BX)

Number of Hedge Fund Investors: 51

Blackstone Inc (NYSE:BX) is one of the biggest names in the financials and investment management industry. The company has over $1 trillion in assets under management. As of the end of March this year, Blackstone’s cash, cash equivalents and corporate treasury investments stood at a whopping $8.4 billion.

Blackstone is one of the best financials stocks with latest insider buying. On May 6, Ruth Porat, a director at Blackstone Inc (NYSE:BX), bought 42,850 shares of Blackstone Inc (NYSE:BX) at $119.58 per share. The total value of this transaction was $33,121. Since then the stock has gained about 1%, as of May 13.

Photo by Kaleidico on Unsplash

Valuation and Dividend

Blackstone’s PE ratio stands 45, which is higher than industry peers. However, given the company’s growth mode and steady dividends, Blackstone’s higher PE ratio is justified. Blackstone’s dividends also look safe, backed by huge cash positions and years of dividend growth. The company’s dividend grew at a CAGR of about 9% over the past decade.

During the company’s earnings call in April, Blackstone talked about 2024 expectations and shareholder returns:

“Looking forward in 2024, the market environment will remain complex. The economy is stronger than expected but is starting to slow a bit. In terms of inflation, despite the recent US CPI readings, we are seeing a decelerating wage growth and minimal input cost increases across many of our companies. In real estate, we see shelter costs moderating, contrary to government data. We believe inflation will trend lower this year, although, the pace of decline has slowed recently. Geopolitical turbulence, including wars in the Middle East and Ukraine, adds further uncertainty to the business environment. And 2024 is a major election year as we all know with nearly half of the world’s population going to the polls, which injects unpredictability around the future of important policies that impact the global economy.

Blackstone is well positioned against this evolving backdrop. Our portfolio is concentrated in compelling sectors and we have the industry’s largest dry powder balance of nearly $200 billion to take advantage of opportunities. Our long term capital provides the flexibility and firepower to invest while affording us the patience to sell assets when the time is right. The firm itself could not be in a stronger position with minimal net debt and no insurance liabilities, allowing us to distribute $4.7 billion to shareholders over the past 12 months through dividends and share repurchases. And we are in the early days of penetrating markets of enormous size and potential.”

As of the end of the fourth quarter of 2023, 51 hedge funds tracked by Insider Monkey had stakes in Blackstone Inc (NYSE:BX). The biggest stakeholder of Blackstone Inc (NYSE:BX) during this period was Stephen Mandel’s Lone Pine Capital which owns a $290 million stake in Blackstone Inc (NYSE:BX). Like BX, hedge funds are also piling into JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC) and Citigroup Inc. (NYSE:C).

Despite this positive sentiment, the stock begs the question: is it the best financial dividend stock insiders are buying in 2024? Does it make sense for individual investors to buy Blackstone Inc (NYSE:BX) right now?

Insider Monkey’s analysis shows that Blackstone is not the best financial dividend stock with latest insider buying.

Click to see 10 Best Financial Dividend Stocks with Insider Buying that are better than Blackstone Inc (NYSE:BX).

Disclosure: None

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

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One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
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Trump has made it clear: Europe and U.S. allies must buy American LNG.

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As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

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AI needs energy. Energy needs infrastructure.

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This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

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This company is completely debt-free.

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The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

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Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

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And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…