Edmond DE Rothschild Holding S.A. Decreases Stake in Blackstone Inc. $BX

Edmond DE Rothschild Holding S.A. trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 33.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,730 shares of the asset manager’s stock after selling 4,978 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Blackstone were worth $1,455,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its stake in shares of Blackstone by 0.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 85,845 shares of the asset manager’s stock valued at $12,841,000 after buying an additional 579 shares during the last quarter. Atalanta Sosnoff Capital LLC acquired a new stake in Blackstone in the second quarter valued at $42,743,000. South Plains Financial Inc. acquired a new position in Blackstone during the 2nd quarter worth $175,000. CreativeOne Wealth LLC increased its position in shares of Blackstone by 13.6% in the 2nd quarter. CreativeOne Wealth LLC now owns 25,870 shares of the asset manager’s stock worth $3,870,000 after purchasing an additional 3,107 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its position in shares of Blackstone by 259.8% during the second quarter. Longfellow Investment Management Co. LLC now owns 22,160 shares of the asset manager’s stock worth $3,315,000 after purchasing an additional 16,001 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the transaction, the director owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was bought at an average price of $25.96 per share, with a total value of $9,999,999.68. Following the completion of the acquisition, the insider directly owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This represents a 2.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,950,751 shares of company stock worth $79,050,138 over the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Piper Sandler reduced their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. BNP Paribas Exane lowered their target price on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. BMO Capital Markets reduced their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Finally, The Goldman Sachs Group increased their price objective on shares of Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.00.

Blackstone Stock Performance

BX opened at $145.04 on Thursday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $194.23. The stock has a market cap of $107.10 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The business’s 50 day moving average is $156.80 and its 200-day moving average is $158.02. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS 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. On average, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

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

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.