Blackstone Inc. $BX Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,340 shares of the asset manager’s stock after buying an additional 17,350 shares during the period. Quantinno Capital Management LP’s holdings in Blackstone were worth $27,867,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Redwood Financial Network Corp boosted its position in Blackstone by 1.8% during the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares during the period. Benchmark Financial Wealth Advisors LLC raised its position in Blackstone by 0.9% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after purchasing an additional 69 shares during the period. Parcion Private Wealth LLC boosted its position in shares of Blackstone by 0.6% in the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after buying an additional 70 shares during the period. Trivium Point Advisory LLC grew its stake in shares of Blackstone by 2.6% in the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after buying an additional 70 shares in the last quarter. Finally, Zacks Investment Management raised its holdings in shares of Blackstone by 2.1% during the 3rd quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider owned 19,374 shares in the company, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone bought 573,614 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was purchased at an average price of $26.15 per share, with a total value of $15,000,006.10. Following the transaction, the insider owned 8,455,758 shares in the company, valued at approximately $221,118,071.70. This represents a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 10,825,959 shares of company stock valued at $224,789,900 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.1%

Shares of NYSE:BX opened at $128.18 on Friday. 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. The company has a fifty day simple moving average of $121.67 and a 200 day simple moving average of $123.87. The company has a current ratio of 0.72, a quick ratio of 0.76 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.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion for 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%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. On average, equities research analysts anticipate that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 4.0%. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, August 3rd. Blackstone’s payout ratio is 103.80%.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent research reports. BNP Paribas Exane lowered their price objective on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods upgraded shares of Blackstone to a “hold” rating in a research note on Monday, July 20th. Piper Sandler lifted their price target on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Rothschild & Co Redburn decreased their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Finally, Evercore reaffirmed an “outperform” rating and set a $150.00 target price on shares of Blackstone in a research report on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

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.