Summit Place Financial Advisors LLC Increases Holdings in Blackstone Inc. $BX

Summit Place Financial Advisors LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 4.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,372 shares of the asset manager’s stock after buying an additional 971 shares during the quarter. Blackstone comprises 1.8% of Summit Place Financial Advisors LLC’s holdings, making the stock its 22nd largest position. Summit Place Financial Advisors LLC’s holdings in Blackstone were worth $3,496,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in BX. Kingstone Capital Partners Texas LLC lifted its position in Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after buying an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. increased its stake in Blackstone by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after acquiring an additional 1,102,949 shares during the last quarter. Nuveen LLC acquired a new stake in Blackstone during the first quarter worth $151,524,000. Amundi increased its stake in Blackstone by 69.3% during the first quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock worth $323,000,000 after acquiring an additional 990,947 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after acquiring an additional 742,829 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the transaction, the insider owned 4,178,771 shares in the company, valued at $105,388,604.62. The trade was a 39.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 4.2%

BX opened at $153.88 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The stock has a market capitalization of $113.42 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 1.31 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The business has a fifty day moving average price of $172.53 and a 200 day moving average price of $154.17.

Blackstone (NYSE:BX) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm had revenue of $2.49 billion during the quarter. Sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is currently 110.75%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BX shares. Bank of America cut their target price on Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. The Goldman Sachs Group lifted their price objective on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. BMO Capital Markets started coverage on Blackstone in a research note on Friday, October 3rd. They issued an “outperform” rating and a $190.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday. Finally, Jefferies Financial Group dropped their price objective on Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Blackstone 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.