UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,353,274 shares of the asset manager’s stock after buying an additional 52,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.58% of Blackstone worth $512,250,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of BX. BlackRock Inc. acquired a new position in shares of Blackstone in the 2nd quarter valued at about $6,112,162,000. Morgan Stanley increased its stake in Blackstone by 2.0% in the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after buying an additional 636,613 shares during the period. State Street Corp boosted its stake in shares of Blackstone by 0.6% during the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock valued at $4,861,885,000 after buying an additional 179,213 shares during the period. Bank of America Corp DE purchased a new position in shares of Blackstone during the 2nd quarter valued at $1,364,373,000. Finally, Norges Bank purchased a new stake in shares of Blackstone during the fourth quarter worth $1,275,747,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Blackstone news, insider John G. Finley sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total value of $6,619,950.00. Following the sale, the insider owned 516,017 shares of the company’s stock, valued at $75,911,260.87. This trade represents a 8.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were acquired at an average price of $26.14 per share, with a total value of $7,126,861.88. Following the completion of the acquisition, the insider owned 8,704,419 shares of the company’s stock, valued at approximately $227,533,512.66. The trade was a 3.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on BX
Blackstone Trading Up 0.2%
NYSE:BX opened at $142.63 on Monday. The company’s 50 day moving average is $130.65 and its 200-day moving average is $122.86. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The firm has a market cap of $107.06 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.55 and a beta of 1.55.
Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. Blackstone’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. Equities analysts anticipate that Blackstone Inc. will post 5.99 EPS for the current year.
Blackstone Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is presently 115.44%.
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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