Intech Investment Management LLC Has $1.67 Million Stake in Blackstone Inc. $BX

Intech Investment Management LLC lifted its stake in Blackstone Inc. (NYSE:BX) by 69.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,160 shares of the asset manager’s stock after buying an additional 4,564 shares during the period. Intech Investment Management LLC’s holdings in Blackstone were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. LGT Capital Partners LTD. lifted its stake in Blackstone by 18.0% during the second quarter. LGT Capital Partners LTD. now owns 259,500 shares of the asset manager’s stock worth $38,816,000 after purchasing an additional 39,500 shares during the period. Union Savings Bank boosted its stake in Blackstone by 1.8% in the 2nd quarter. Union Savings Bank now owns 8,344 shares of the asset manager’s stock valued at $1,248,000 after buying an additional 151 shares in the last quarter. Cetera Investment Advisers raised its stake in Blackstone by 11.4% during the second quarter. Cetera Investment Advisers now owns 332,445 shares of the asset manager’s stock worth $49,727,000 after acquiring an additional 34,118 shares in the last quarter. Creative Planning boosted its stake in shares of Blackstone by 5.8% in the 2nd quarter. Creative Planning now owns 265,213 shares of the asset manager’s stock valued at $39,671,000 after purchasing an additional 14,529 shares in the last quarter. Finally, Advisory Resource Group acquired a new stake in shares of Blackstone during the 2nd quarter worth about $1,141,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 3.0%

Shares of NYSE BX opened at $142.59 on Friday. 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 firm has a market capitalization of $105.30 billion, a PE ratio of 40.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The firm’s 50-day moving average is $159.22 and its 200-day moving average is $157.92. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced 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 for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a $1.29 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.6%. Blackstone’s payout ratio is currently 147.43%.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. BNP Paribas Exane reduced their price objective on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Morgan Stanley raised their target price on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. BMO Capital Markets decreased their price objective on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Blackstone from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $179.00.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 324 shares of the stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the purchase, the director owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Breyer purchased 13,900 shares of Blackstone stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the transaction, the director owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 2,565,543 shares of company stock worth $69,050,139. 1.00% of the stock is owned by company insiders.

About Blackstone

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.