Cryder Capital Partners LLP Boosts Holdings in Blackstone Inc. $BX

Cryder Capital Partners LLP boosted its holdings in Blackstone Inc. (NYSE:BX) by 7.1% in the second quarter, Holdings Channel reports. The institutional investor owned 997,317 shares of the asset manager’s stock after acquiring an additional 66,440 shares during the quarter. Blackstone accounts for approximately 8.4% of Cryder Capital Partners LLP’s investment portfolio, making the stock its 6th biggest holding. Cryder Capital Partners LLP’s holdings in Blackstone were worth $149,179,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. 1248 Management LLC bought a new position in Blackstone in the 1st quarter worth about $25,000. Family CFO Inc bought a new position in shares of Blackstone in the second quarter valued at approximately $28,000. Wealth Preservation Advisors LLC bought a new stake in Blackstone during the 1st quarter worth approximately $28,000. Anderson Financial Strategies LLC bought a new position in Blackstone in the 1st quarter valued at $28,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Blackstone during the 2nd quarter valued at $30,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Down 0.3%

BX stock opened at $154.55 on Monday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a market capitalization of $113.92 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.77. The company’s 50 day moving average price is $170.20 and its two-hundred day moving average price is $156.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75.

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

Blackstone Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, November 3rd. This represents a $5.16 annualized dividend and a yield of 3.3%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) is currently 117.71%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the acquisition, the insider owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on BX shares. Jefferies Financial Group reduced their target price on Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. The Goldman Sachs Group boosted their price objective on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. BNP Paribas Exane lowered their target price on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $166.00 price target on shares of Blackstone and gave the stock a “buy” rating in a research note on Friday. Finally, Piper Sandler dropped their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.26.

Blackstone Profile

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.