Ingalls & Snyder LLC Purchases 165 Shares of Blackstone Inc. $BX

Ingalls & Snyder LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,124 shares of the asset manager’s stock after acquiring an additional 165 shares during the quarter. Ingalls & Snyder LLC’s holdings in Blackstone were worth $467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after purchasing an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. boosted its position in Blackstone by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after purchasing an additional 1,102,949 shares during the period. Goldman Sachs Group Inc. boosted its position in Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Blackstone by 4.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock valued at $599,872,000 after acquiring an additional 182,526 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Blackstone by 2.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock valued at $581,886,000 after acquiring an additional 117,724 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director owned 695,757 shares in the company, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $154.55 on Monday. The business has a 50 day moving average of $170.20 and a 200 day moving average of $156.15. The company has a market capitalization of $113.92 billion, a price-to-earnings ratio of 44.16, a PEG ratio of 1.24 and a beta of 1.77. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last announced its quarterly 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 business had revenue of $2.49 billion for the quarter. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be issued a $1.29 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s dividend payout ratio is currently 117.71%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley boosted their target price on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Piper Sandler cut their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday. Bank of America cut their price target on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft set a $166.00 target price on Blackstone and gave the stock a “buy” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.26.

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.