Campbell & CO Investment Adviser LLC Increases Holdings in Blackstone Inc. $BX

Campbell & CO Investment Adviser LLC increased its stake in Blackstone Inc. (NYSE:BX) by 92.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 40,113 shares of the asset manager’s stock after buying an additional 19,321 shares during the quarter. Blackstone accounts for approximately 0.4% of Campbell & CO Investment Adviser LLC’s portfolio, making the stock its 26th largest holding. Campbell & CO Investment Adviser LLC’s holdings in Blackstone were worth $6,000,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Blackstone during the 2nd quarter worth approximately $8,355,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Blackstone by 7.9% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,392,425 shares of the asset manager’s stock valued at $208,279,000 after buying an additional 101,362 shares during the period. Aviva PLC grew its stake in shares of Blackstone by 81.9% during the 2nd quarter. Aviva PLC now owns 501,472 shares of the asset manager’s stock worth $75,010,000 after acquiring an additional 225,739 shares during the period. Prospera Financial Services Inc raised its stake in Blackstone by 0.3% in the 2nd quarter. Prospera Financial Services Inc now owns 237,895 shares of the asset manager’s stock valued at $35,587,000 after acquiring an additional 777 shares during the period. Finally, Garrison Point Advisors LLC bought a new position in Blackstone during the second quarter worth about $209,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was acquired at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the sale, the insider owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 2,565,415 shares of company stock worth $69,037,981 and have sold 16,875,234 shares worth $136,847,628. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Up 1.8%

Shares of Blackstone stock opened at $146.00 on Friday. The company has a 50 day simple moving average of $165.79 and a two-hundred day simple moving average of $157.40. The firm has a market cap of $107.61 billion, a PE ratio of 41.71, a PEG ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion for the quarter. Analysts expect 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 will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be given a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.5%. Blackstone’s dividend payout ratio is currently 147.43%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Evercore ISI cut their price target on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. BMO Capital Markets cut their target price on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Finally, Piper Sandler lowered their price target on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.74.

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.