Blackstone Inc. $BX is Moody Lynn & Lieberson LLC’s 10th Largest Position

Moody Lynn & Lieberson LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.3% in the third quarter, Holdings Channel reports. The firm owned 287,947 shares of the asset manager’s stock after acquiring an additional 9,073 shares during the period. Blackstone makes up 2.6% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 10th biggest position. Moody Lynn & Lieberson LLC’s holdings in Blackstone were worth $49,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its holdings in Blackstone by 519,669.1% in the 2nd 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. lifted its stake in shares of Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after acquiring an additional 1,494,796 shares in the last quarter. Geode Capital Management LLC grew its stake in Blackstone by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after purchasing an additional 227,416 shares in the last quarter. Norges Bank acquired a new position in shares of Blackstone in the 2nd quarter valued at approximately $1,071,348,000. Finally, Legal & General Group Plc boosted its stake in shares of Blackstone by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock valued at $678,037,000 after buying an additional 202,245 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 324 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were bought at an average price of $146.92 per share, with a total value of $47,602.08. Following the purchase, the director owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. This represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Following the transaction, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. This represents a 99.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 797,148 shares of company stock valued at $24,050,153 in the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $154.72 on Wednesday. The stock has a 50 day simple moving average of $148.79 and a 200-day simple moving average of $160.06. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $114.25 billion, a PE ratio of 44.21, a P/E/G ratio of 1.32 and a beta of 1.76. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The company had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. On average, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s payout ratio is currently 147.43%.

Wall Street Analyst Weigh In

A number of research analysts have commented on BX shares. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. TD Cowen reduced their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. HSBC cut their price objective on Blackstone from $179.00 to $178.00 in a research note on Monday, October 27th. UBS Group reiterated a “neutral” rating on shares of Blackstone in a report on Wednesday, December 24th. Finally, Jefferies Financial Group decreased their price objective on shares of Blackstone from $199.00 to $187.00 in a report on Monday, November 10th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.95.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.