Artisan Partners Limited Partnership Has $68.52 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Artisan Partners Limited Partnership lifted its holdings in Blackstone Inc. (NYSE:BXGet Rating) by 2.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 751,033 shares of the asset manager’s stock after buying an additional 16,650 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Blackstone were worth $68,517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BX. Financial Advantage Inc. bought a new stake in shares of Blackstone during the first quarter worth $26,000. Destiny Wealth Partners LLC bought a new stake in Blackstone during the 2nd quarter worth about $25,000. Tilia Fiduciary Partners Inc. bought a new stake in Blackstone during the 2nd quarter worth about $33,000. Janiczek Wealth Management LLC acquired a new position in Blackstone during the 2nd quarter valued at about $42,000. Finally, Rise Advisors LLC raised its stake in shares of Blackstone by 421.8% during the second quarter. Rise Advisors LLC now owns 454 shares of the asset manager’s stock worth $41,000 after buying an additional 367 shares during the last quarter. Institutional investors own 61.87% of the company’s stock.

Insider Activity

In other Blackstone news, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $11.01, for a total transaction of $77,070,000.00. Following the transaction, the insider now owns 21,825,125 shares of the company’s stock, valued at $240,294,626.25. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Blackstone news, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of Blackstone stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $11.01, for a total transaction of $77,070,000.00. Following the completion of the transaction, the insider now directly owns 21,825,125 shares of the company’s stock, valued at $240,294,626.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 50,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $107.21, for a total transaction of $5,360,500.00. Following the completion of the transaction, the insider now owns 355,698 shares in the company, valued at $38,134,382.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,203,671 shares of company stock valued at $207,047,536. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BX has been the topic of several recent research reports. BMO Capital Markets reduced their price target on Blackstone from $115.00 to $109.00 and set a “market perform” rating on the stock in a research report on Tuesday. Argus decreased their target price on Blackstone from $137.00 to $115.00 in a research report on Tuesday, October 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $127.00 to $128.00 and gave the company a “buy” rating in a research report on Tuesday, November 15th. Keefe, Bruyette & Woods lowered shares of Blackstone from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $127.00 to $115.00 in a report on Wednesday, August 3rd. Finally, Wells Fargo & Company reduced their target price on Blackstone from $91.00 to $88.00 and set an “equal weight” rating on the stock in a report on Friday, October 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.10.

Blackstone Price Performance

NYSE:BX opened at $88.52 on Thursday. Blackstone Inc. has a 52-week low of $79.54 and a 52-week high of $149.51. The company has a market cap of $62.12 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.13 and a beta of 1.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $90.16 and its 200 day simple moving average is $97.37.

Blackstone (NYSE:BXGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The asset manager reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. Blackstone had a return on equity of 20.75% and a net margin of 20.58%. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue was down 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.15 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.07%. Blackstone’s payout ratio is 101.70%.

Blackstone Company Profile

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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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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