18,377 Shares in Blackstone Inc. $BX Bought by New Hampshire Trust

New Hampshire Trust bought a new stake in Blackstone Inc. (NYSE:BX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,377 shares of the asset manager’s stock, valued at approximately $2,749,000.

Other hedge funds have also recently bought and sold shares of the company. 1248 Management LLC bought a new stake in Blackstone in the 1st quarter valued at $25,000. Family CFO Inc acquired a new position in Blackstone in the 2nd quarter valued at approximately $28,000. Wealth Preservation Advisors LLC acquired a new position in Blackstone in the 1st quarter valued at approximately $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone in the 1st quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory bought a new stake in Blackstone in the 2nd quarter valued at $30,000. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

BX has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Jefferies Financial Group cut their price objective on Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. HSBC upped their price objective on shares of Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. JMP Securities reaffirmed a “market outperform” rating and set a $195.00 price objective on shares of Blackstone in a report on Friday. Finally, Bank of America dropped their price objective on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.26.

Blackstone Trading Down 0.3%

BX stock opened at $154.55 on Friday. The company has a market cap of $113.92 billion, a P/E ratio of 44.16, a PEG ratio of 1.26 and a beta of 1.77. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average of $170.20 and a 200-day moving average of $156.02.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be given a $1.29 dividend. The ex-dividend date is Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is 117.71%.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the transaction, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

About Blackstone

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.