Corient Private Wealth LP Purchases Shares of 422,221 Blackstone Inc. $BX

Corient Private Wealth LP acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 422,221 shares of the asset manager’s stock, valued at approximately $44,314,000.

A number of other institutional investors have also recently added to or reduced their stakes in BX. BlackRock Inc. acquired a new stake in Blackstone during the second quarter worth about $6,112,162,000. Bank of America Corp DE purchased a new stake in shares of Blackstone during the 2nd quarter worth about $1,364,373,000. Norges Bank purchased a new position in Blackstone in the fourth quarter valued at approximately $1,275,747,000. Legal & General Group Plc acquired a new position in Blackstone during the second quarter valued at approximately $605,267,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Blackstone in the second quarter worth $514,736,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares in the company, valued at $73,233.72. This represents a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John G. Finley sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the completion of the sale, the insider directly owned 516,017 shares of the company’s stock, valued at $75,911,260.87. The trade was a 8.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 0.3%

Shares of NYSE BX opened at $143.62 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The stock’s 50-day simple moving average is $130.28 and its 200-day simple moving average is $122.78. The firm has a market cap of $107.80 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.56 and a beta of 1.56.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. Blackstone’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, equities analysts anticipate that Blackstone Inc. will post 5.99 earnings per share 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 paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. Blackstone’s payout ratio is presently 115.44%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BX. BNP Paribas Exane decreased their price target 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. Rothschild & Co Redburn reduced their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Barclays increased their target price on Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Jefferies Financial Group boosted their price target on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Thirteen equities research 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, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $149.43.

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.