Blackstone Inc. $BX Shares Bought by AlTi Global Inc.

AlTi Global Inc. grew its stake in Blackstone Inc. (NYSE:BX) by 14.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,542 shares of the asset manager’s stock after buying an additional 438 shares during the quarter. AlTi Global Inc.’s holdings in Blackstone were worth $533,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arcus Capital Partners LLC lifted its stake in Blackstone by 1.2% during the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after purchasing an additional 58 shares during the last quarter. Mattern Wealth Management LLC lifted its stake in Blackstone by 2.8% during the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the last quarter. Sage Rhino Capital LLC lifted its stake in Blackstone by 0.8% in the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after buying an additional 63 shares during the last quarter. Jeppson Wealth Management LLC lifted its stake in Blackstone by 1.0% in the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock valued at $980,000 after buying an additional 66 shares during the last quarter. Finally, McAdam LLC lifted its stake in Blackstone by 4.4% in the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock valued at $246,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $154.55 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The business has a 50 day simple moving average of $170.20 and a 200-day simple moving average of $155.77. The stock has a market capitalization of $113.92 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion for the quarter. Equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be issued a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s dividend payout ratio is currently 117.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays reduced their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. Jefferies Financial Group reduced their price objective on Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Piper Sandler reduced their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Finally, Morgan Stanley upped their price target on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.84.

Insider Activity

In other Blackstone news, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the sale, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. This trade represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,538,345 shares of company stock valued at $65,046,628 and have sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company’s stock.

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.