Vestor Capital LLC cut its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 99.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,091 shares of the asset manager’s stock after selling 244,995 shares during the period. Vestor Capital LLC’s holdings in Blackstone were worth $125,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of BX. Brighton Jones LLC increased its stake in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after acquiring an additional 2,035 shares during the period. Sivia Capital Partners LLC boosted its holdings in Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares in the last quarter. United Bank grew its stake in shares of Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after purchasing an additional 1,729 shares during the period. Nebula Research & Development LLC acquired a new position in shares of Blackstone in the 2nd quarter worth approximately $1,124,000. Finally, Sei Investments Co. boosted its stake in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after buying an additional 8,655 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
Blackstone Stock Performance
Shares of NYSE:BX opened at $128.18 on Friday. The business has a fifty day moving average of $121.67 and a 200-day moving average of $123.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.72. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The firm has a market cap of $95.22 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.58.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, August 3rd. This represents a $5.16 annualized dividend and a yield of 4.0%. Blackstone’s dividend payout ratio is presently 103.80%.
Analyst Ratings Changes
Several research analysts have issued reports on BX shares. JPMorgan Chase & Co. dropped their price objective on Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Royal Bank Of Canada upped their target price on shares of Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler lifted their price target on shares of Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Finally, BNP Paribas Exane dropped their price objective on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.
Read Our Latest Research Report on BX
Insider Transactions at Blackstone
In other news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the acquisition, the insider directly owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought a total of 10,825,959 shares of company stock valued at $224,789,900 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
Blackstone Profile
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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