Blackstone Inc. $BX is Torray Investment Partners LLC’s 6th Largest Position

Torray Investment Partners LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 296.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,647 shares of the asset manager’s stock after purchasing an additional 99,950 shares during the quarter. Blackstone makes up approximately 2.9% of Torray Investment Partners LLC’s portfolio, making the stock its 6th biggest position. Torray Investment Partners LLC’s holdings in Blackstone were worth $19,991,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kera Capital Partners Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $273,000. Redmond Asset Management LLC lifted its position in shares of Blackstone by 21.2% in the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after buying an additional 3,281 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in shares of Blackstone during the 2nd quarter worth about $423,000. Sandy Cove Advisors LLC increased its stake in Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after acquiring an additional 2,182 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of Blackstone by 14.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after purchasing an additional 1,863 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on BX shares. Piper Sandler reduced their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. HSBC reduced their price objective on Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods cut their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and an average target price of $179.74.

Blackstone Price Performance

BX opened at $146.45 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a fifty day simple moving average of $168.51 and a 200 day simple moving average of $156.99. The stock has a market cap of $107.94 billion, a P/E ratio of 41.84, a P/E/G ratio of 1.18 and a beta of 1.77.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.5%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Insider Activity

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was bought at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the transaction, the insider owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the sale, the insider owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 2,551,515 shares of company stock valued at $67,038,327 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by insiders.

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.