LGT Capital Partners LTD. Has $38.82 Million Stake in Blackstone Inc. $BX

LGT Capital Partners LTD. grew its holdings in Blackstone Inc. (NYSE:BX) by 18.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,500 shares of the asset manager’s stock after purchasing an additional 39,500 shares during the period. Blackstone makes up 1.7% of LGT Capital Partners LTD.’s portfolio, making the stock its 22nd biggest position. LGT Capital Partners LTD.’s holdings in Blackstone were worth $38,816,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BX. 1248 Management LLC purchased a new stake in shares of Blackstone in the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone during the 1st quarter valued at $28,000. Anderson Financial Strategies LLC acquired a new position in shares of Blackstone in the first quarter worth $28,000. Family CFO Inc acquired a new stake in Blackstone during the second quarter valued at $28,000. Finally, Livelsberger Financial Advisory acquired a new position in Blackstone in the 2nd quarter worth about $30,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

NYSE:BX opened at $141.46 on Friday. 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 stock has a market cap of $104.46 billion, a P/E ratio of 40.42, a PEG ratio of 1.18 and a beta of 1.76. The company has a fifty day moving average price of $163.12 and a 200 day moving average price of $157.60. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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 business had revenue of $2.49 billion during the quarter. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were given a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.6%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Insider Buying and Selling

In other Blackstone news, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the acquisition, the director owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 2,565,543 shares of company stock worth $69,050,139. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BX. Piper Sandler decreased their target price on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Barclays lowered their target price on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. BNP Paribas Exane decreased their price target on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Bank of America reduced their target price on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Blackstone Company 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.