Proficio Capital Partners LLC raised its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 33.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,947 shares of the asset manager’s stock after purchasing an additional 12,426 shares during the period. Proficio Capital Partners LLC’s holdings in Blackstone were worth $5,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nwam LLC increased its position in Blackstone by 36.5% during the second quarter. Nwam LLC now owns 11,041 shares of the asset manager’s stock valued at $1,299,000 after acquiring an additional 2,950 shares during the last quarter. Renasant Bank bought a new stake in Blackstone in the second quarter worth about $1,095,000. Rehmann Capital Advisory Group grew its stake in shares of Blackstone by 2.8% during the second quarter. Rehmann Capital Advisory Group now owns 25,721 shares of the asset manager’s stock valued at $3,027,000 after buying an additional 699 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Blackstone by 411.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 314,318 shares of the asset manager’s stock worth $36,986,000 after buying an additional 252,868 shares during the period. Finally, Moore Capital Management LP purchased a new position in Blackstone during the 2nd quarter valued at $3,629,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
Blackstone Price Performance
BX opened at $143.32 on Tuesday. The firm has a market capitalization of $107.58 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.55. The business’s 50-day moving average is $131.06 and its two-hundred day moving average is $122.93. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72.
Blackstone Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone’s dividend payout ratio is presently 115.44%.
Insider Activity
In other Blackstone news, insider John G. Finley sold 45,000 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 516,017 shares in the company, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were acquired at an average price of $26.14 per share, for a total transaction of $7,126,861.88. Following the purchase, the insider directly 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 position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 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 currently owned by company insiders.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Blackstone in a research note on Monday, June 8th. They issued a “buy” rating on the stock. Barclays raised their price target on shares of Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lowered their price objective on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. TD Cowen lifted their price target on shares of Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their price objective on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.43.
Check Out Our Latest Report on Blackstone
About Blackstone
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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