Amalgamated Bank Has $24.33 Million Stake in Blackstone Inc. $BX

Amalgamated Bank increased its stake in shares of Blackstone Inc. (NYSE:BX) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,677 shares of the asset manager’s stock after acquiring an additional 7,747 shares during the period. Amalgamated Bank’s holdings in Blackstone were worth $24,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Arcus Capital Partners LLC increased its stake in Blackstone by 1.2% in the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after buying an additional 58 shares during the last quarter. Mattern Wealth Management LLC increased its stake in Blackstone by 2.8% in the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after buying an additional 60 shares during the last quarter. Sage Rhino Capital LLC increased its stake in Blackstone by 0.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after buying an additional 63 shares during the last quarter. WNY Asset Management LLC grew its position in shares of Blackstone by 1.7% in the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after acquiring an additional 64 shares during the period. Finally, Jeppson Wealth Management LLC grew its position in shares of Blackstone by 1.0% in the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock valued at $980,000 after acquiring an additional 66 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on BX shares. Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. 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 research note on Friday, October 24th. The Goldman Sachs Group lifted 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. Finally, BMO Capital Markets dropped their price objective on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.74.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the business’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 sale, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of 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 is available in the SEC filing. Over the last ninety days, insiders purchased 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $148.79 on Thursday. The firm has a 50 day moving average of $169.28 and a 200-day moving average of $156.58. The stock has a market capitalization of $109.67 billion, a PE ratio of 42.51, a PEG ratio of 1.22 and a beta of 1.77. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. 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 released 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 during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. On average, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm 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 dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is presently 117.71%.

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.