Saiph Capital LLC Takes Position in Blackstone Inc. $BX

Saiph Capital LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,000 shares of the asset manager’s stock, valued at approximately $598,000.

Other large investors also recently modified their holdings of the company. 1248 Management LLC bought a new position in Blackstone in the 1st quarter worth approximately $25,000. Traub Capital Management LLC acquired a new stake in shares of Blackstone in the 2nd quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone during the first quarter valued at $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone in the first quarter worth about $28,000. Finally, Family CFO Inc bought a new stake in Blackstone during the 2nd quarter worth about $28,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

NYSE BX opened at $151.30 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $194.00. The business has a 50 day simple moving average of $152.51 and a 200 day simple moving average of $157.95. The stock has a market cap of $111.73 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 1.21 and a beta of 1.76.

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 company had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s payout ratio is currently 147.43%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BX. JMP Securities reissued a “market outperform” rating and set a $195.00 price target on shares of Blackstone in a research note on Friday, October 24th. BMO Capital Markets dropped their target price on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Bank of America decreased their price objective on Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. Morgan Stanley increased 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. Finally, Evercore ISI lowered their price target on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.00.

Insiders Place Their Bets

In other Blackstone news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of Blackstone stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the acquisition, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Breyer purchased 13,900 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were acquired 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 directly owned 68,906 shares in the company, 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. Insiders have acquired 2,950,751 shares of company stock worth $79,050,138 in the last 90 days. 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.