UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $512.25 Million Stake in Blackstone Inc. $BX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.2% in the second quarter, Holdings Channel.com reports. The fund owned 4,353,274 shares of the asset manager’s stock after purchasing an additional 52,755 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Blackstone were worth $512,250,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. New Mexico Educational Retirement Board lifted its position in shares of Blackstone by 9.4% during the 2nd quarter. New Mexico Educational Retirement Board now owns 37,300 shares of the asset manager’s stock worth $4,389,000 after buying an additional 3,200 shares during the period. Mufg Securities Americas Inc. raised its stake in Blackstone by 8.0% during the second quarter. Mufg Securities Americas Inc. now owns 22,375 shares of the asset manager’s stock worth $2,633,000 after acquiring an additional 1,658 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of Blackstone by 1.3% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 21,856 shares of the asset manager’s stock valued at $2,572,000 after purchasing an additional 287 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Blackstone by 0.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,770,478 shares of the asset manager’s stock worth $208,332,000 after purchasing an additional 5,103 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its holdings in Blackstone by 49.6% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 6,176 shares of the asset manager’s stock valued at $727,000 after purchasing an additional 2,048 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 0.2%

Shares of BX opened at $142.63 on Monday. The firm has a market capitalization of $107.06 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.55 and a beta of 1.55. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The business’s fifty day moving average price is $130.65 and its two-hundred day moving average price is $122.86.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. On average, analysts predict that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $1.29 per share. The ex-dividend date was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio is presently 115.44%.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods upgraded Blackstone to a “hold” rating in a research report on Monday, July 20th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Barclays increased their target price on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total value of $6,619,950.00. Following the completion of the sale, the insider directly owned 516,017 shares of the company’s stock, valued at $75,911,260.87. This represents a 8.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 1,611,822 shares of company stock valued at $42,189,294 and sold 7,562,000 shares valued at $40,331,085. Insiders own 1.00% of the company’s stock.

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.