Dividends are increasing for several prominent firms in the asset management and insurance industries, with analysts projecting positive growth for these companies. Blackstone (NYSE: BX), the world’s leading alternative asset manager with around $1.275 trillion in assets under management, has announced a 15% rise in its quarterly dividend to $1.49 per share, despite a challenging past year, which saw a 23% decline in total returns. Analysts continue to view Blackstone favorably, predicting a 31% to 35% upside in stock price, with consensus price targets around $170 to $175.
In contrast, Charles Schwab (NYSE: SCHW) reported strong momentum, achieving a total return of approximately 27% over the last year and announcing a 19% increase in its quarterly dividend, which now stands at 32 cents per share. The firm saw a remarkable 22% growth in revenues due to significant client account additions and investment service inflows. Analysts have set price targets ranging from $116 to $128, suggesting an upside potential of 10% to 22%.
Allstate (NYSE: ALL), a major player in the insurance sector, provided its shareholders with an 8% dividend increase, raising the quarterly payout to $1.08. While the company experienced a more modest overall return of 10% over the past year, strong performance in operating earnings has reassured analysts, leading to a price target around $238, indicating a potential 15% increase.
In summary, despite varying performance across these companies, all are committed to rewarding their shareholders through dividend increases and show promise for future growth.
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