Blackstone Inc. (NYSE:BX) Stock Position Raised by Telemus Capital LLC

Telemus Capital LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,423 shares of the asset manager’s stock after acquiring an additional 1,595 shares during the quarter. Blackstone accounts for 0.9% of Telemus Capital LLC’s portfolio, making the stock its 26th largest holding. Telemus Capital LLC’s holdings in Blackstone were worth $10,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Blackstone by 30.2% during the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after acquiring an additional 14,396,655 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Blackstone by 13.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock worth $1,588,433,000 after acquiring an additional 1,744,652 shares in the last quarter. Northern Trust Corp raised its holdings in Blackstone by 43.9% during the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after buying an additional 2,098,150 shares in the last quarter. Brown Advisory Inc. raised its holdings in Blackstone by 1.5% during the third quarter. Brown Advisory Inc. now owns 6,106,889 shares of the asset manager’s stock valued at $654,292,000 after buying an additional 92,112 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Blackstone by 2.1% during the third quarter. Legal & General Group Plc now owns 5,246,005 shares of the asset manager’s stock valued at $562,058,000 after buying an additional 106,251 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the sale, the director now directly owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $122.09 on Tuesday. The stock has a market capitalization of $87.25 billion, a P/E ratio of 43.14, a PEG ratio of 0.98 and a beta of 1.51. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $126.31 and its 200 day moving average is $118.06. Blackstone Inc. has a 12 month low of $79.92 and a 12 month high of $133.56.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Blackstone Inc. will post 4.82 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is currently 132.86%.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Piper Sandler decreased their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Finally, Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.94.

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.