Partners Capital Investment Group LLP Buys New Position in Blackstone Inc. $BX

Partners Capital Investment Group LLP purchased a new position in shares of Blackstone Inc. (NYSE:BXFree Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,677 shares of the asset manager’s stock, valued at approximately $433,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strive Asset Management LLC bought a new stake in Blackstone during the third quarter valued at $30,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone in the 4th quarter valued at about $28,000. Kelleher Financial Advisors acquired a new stake in Blackstone during the third quarter worth approximately $34,000. Palladiem LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $31,000. Finally, Entrust Financial LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BX. TD Cowen boosted their target price on shares of Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Rothschild & Co Redburn decreased their price target on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Sanford C. Bernstein began coverage on shares of Blackstone in a research report on Monday, June 8th. They set an “outperform” rating on the stock. Barclays upped their price target on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Finally, Oppenheimer raised their price objective on Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

View Our Latest Research Report on BX

Blackstone Trading Up 0.2%

NYSE:BX opened at $143.66 on Tuesday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company has a market cap of $107.83 billion, a PE ratio of 32.14, a PEG ratio of 1.56 and a beta of 1.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a 50-day moving average of $129.20 and a 200-day moving average of $122.50.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 23.77% and a net margin of 21.84%.The company’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities research analysts expect that Blackstone Inc. will post 5.99 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 115.44%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,000 shares of Blackstone stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the transaction, the insider directly owned 869,669 shares of the company’s stock, valued at $117,883,632.95. The trade was a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the acquisition, the insider owned 7,882,145 shares of the company’s stock, valued at $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. Insiders own 1.00% of the company’s stock.

Blackstone Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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