iSAM Funds UK Ltd Purchases 4,834 Shares of Blackstone Inc. $BX

iSAM Funds UK Ltd lifted its holdings in Blackstone Inc. (NYSE:BX) by 62.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,612 shares of the asset manager’s stock after purchasing an additional 4,834 shares during the quarter. iSAM Funds UK Ltd’s holdings in Blackstone were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Traub Capital Management LLC purchased a new position in shares of Blackstone in the second quarter worth approximately $27,000. 1248 Management LLC purchased a new stake in Blackstone in the first quarter worth about $25,000. Family CFO Inc purchased a new position in shares of Blackstone during the 2nd quarter valued at about $28,000. Wealth Preservation Advisors LLC purchased a new stake in Blackstone in the 1st quarter worth approximately $28,000. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Blackstone during the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was 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 represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average price of $25.61 per share, with a total value 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 is available in the SEC filing. Insiders bought 2,950,751 shares of company stock worth $79,050,138 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BX. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. BMO Capital Markets reduced their price objective 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. Morgan Stanley raised their target price on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. BNP Paribas Exane dropped their price objective on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Finally, Citigroup decreased their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Blackstone Stock Down 0.7%

Shares of NYSE:BX opened at $151.14 on Tuesday. The company has a 50-day moving average price of $151.54 and a 200 day moving average price of $158.34. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $194.00. The company has a market cap of $111.61 billion, a price-to-earnings ratio of 43.18, a PEG ratio of 1.21 and a beta of 1.76.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. As a group, equities research analysts predict 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. Stockholders of record on Monday, November 3rd were paid a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s payout ratio is currently 147.43%.

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.