2,856 Shares in Blackstone Inc. $BX Purchased by R Squared Ltd

R Squared Ltd acquired a new position in Blackstone Inc. (NYSE:BX) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 2,856 shares of the asset manager’s stock, valued at approximately $427,000.

Other large investors have also recently bought and sold shares of the company. 1248 Management LLC acquired a new position in Blackstone during the 1st quarter valued at about $25,000. von Borstel & Associates Inc. acquired a new position in Blackstone during the 1st quarter valued at about $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone during the 1st quarter valued at about $28,000. Anderson Financial Strategies LLC bought a new position in shares of Blackstone during the 1st quarter valued at about $28,000. Finally, Family CFO Inc bought a new position in shares of Blackstone during the 2nd quarter valued at about $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $166.00 price objective on shares of Blackstone and gave the company a “buy” rating in a research report on Friday. 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 report on Friday. Bank of America decreased their target price on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. BMO Capital Markets assumed coverage on shares of Blackstone in a report on Friday, October 3rd. They issued an “outperform” rating and a $190.00 target price for the company. Finally, HSBC raised their target price on shares of Blackstone from $170.00 to $179.00 in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $180.84.

Blackstone Price Performance

NYSE BX opened at $154.55 on Friday. The company has a 50 day simple moving average of $170.20 and a 200-day simple moving average of $155.77. 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 firm has a market capitalization of $113.92 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results 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 during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal 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 given a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, November 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.3%. Blackstone’s payout ratio is 117.71%.

Insider Activity

In related news, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction that occurred on 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 ownership of the stock. The sale 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 acquired 2,538,071 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This represents a 51.09% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 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.

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.