Dupont Capital Management Corp Has $5.84 Million Holdings in Blackstone Inc. $BX

Dupont Capital Management Corp cut its position in shares of Blackstone Inc. (NYSE:BX) by 32.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,072 shares of the asset manager’s stock after selling 18,703 shares during the quarter. Dupont Capital Management Corp’s holdings in Blackstone were worth $5,844,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund increased its position in shares of Blackstone by 105.4% during the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock worth $1,874,000 after buying an additional 6,878 shares during the period. Kera Capital Partners Inc. acquired a new stake in shares of Blackstone during the second quarter worth $273,000. Sandy Cove Advisors LLC boosted its stake in Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after acquiring an additional 2,182 shares in the last quarter. Bourgeon Capital Management LLC bought a new position in Blackstone during the second quarter worth $423,000. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Blackstone by 14.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after acquiring an additional 1,863 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the acquisition, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This represents a 51.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider owned 737,248 shares of the company’s stock, valued at $128,015,742.72. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 2.7%

BX opened at $160.57 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The company’s 50-day moving average is $171.47 and its 200 day moving average is $155.23. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a market capitalization of $118.36 billion, a P/E ratio of 43.16, a PEG ratio of 1.27 and a beta of 1.77.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $2.49 billion for the quarter. Research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. Blackstone’s payout ratio is 110.75%.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Blackstone in a research note on Friday, October 3rd. They set an “outperform” rating and a $190.00 target price on the stock. JMP Securities increased their target price on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research note on Friday, July 25th. HSBC raised their price objective on shares of Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price objective on shares of Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $180.26.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.