AlTi Global Inc. Increases Stock Holdings in Blackstone Inc. $BX

AlTi Global Inc. increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,542 shares of the asset manager’s stock after buying an additional 438 shares during the period. AlTi Global Inc.’s holdings in Blackstone were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Carnegie Investment Counsel lifted its position in shares of Blackstone by 28.5% during the 2nd quarter. Carnegie Investment Counsel now owns 37,191 shares of the asset manager’s stock valued at $5,563,000 after buying an additional 8,247 shares in the last quarter. Gallagher Capital Advisors LLC lifted its position in shares of Blackstone by 69.3% during the 2nd quarter. Gallagher Capital Advisors LLC now owns 18,573 shares of the asset manager’s stock valued at $2,778,000 after buying an additional 7,602 shares in the last quarter. KPP Advisory Services LLC raised its stake in Blackstone by 4.8% in the 2nd quarter. KPP Advisory Services LLC now owns 13,068 shares of the asset manager’s stock valued at $1,955,000 after purchasing an additional 596 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Blackstone by 4.7% in the 2nd quarter. Bleakley Financial Group LLC now owns 26,281 shares of the asset manager’s stock valued at $3,931,000 after purchasing an additional 1,181 shares during the last quarter. Finally, Warther Private Wealth LLC raised its stake in Blackstone by 73.4% in the 2nd quarter. Warther Private Wealth LLC now owns 2,961 shares of the asset manager’s stock valued at $443,000 after purchasing an additional 1,253 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. JMP Securities reissued a “market outperform” rating and issued a $195.00 price objective on shares of Blackstone in a research note on Friday. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. BNP Paribas Exane raised their target price on Blackstone from $166.00 to $178.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Finally, Citigroup cut their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus target price of $180.84.

Blackstone Stock Down 0.3%

Shares of NYSE:BX opened at $154.55 on Friday. The business has a 50-day moving average price of $170.20 and a 200 day moving average price of $155.77. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $113.92 billion, a price-to-earnings ratio of 44.16, a PEG ratio of 1.26 and a beta of 1.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is 117.71%.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.