Partners Capital Investment Group LLP Purchases New Stake in Blackstone Inc. $BX

Partners Capital Investment Group LLP acquired a new position in Blackstone Inc. (NYSE:BX) during the 2nd quarter, HoldingsChannel reports. The fund acquired 3,677 shares of the asset manager’s stock, valued at approximately $433,000.

Several other large investors also recently modified their holdings of the stock. Aberdeen Wealth Management LLC bought a new stake in Blackstone during the 2nd quarter valued at $49,000. Visionary Wealth Advisors bought a new position in shares of Blackstone in the second quarter worth $621,000. Dearborn Partners LLC bought a new stake in shares of Blackstone during the 2nd quarter valued at $1,207,000. Ames National Corp purchased a new stake in Blackstone during the 2nd quarter worth about $106,000. Finally, GSG Advisors LLC purchased a new position in Blackstone during the 2nd quarter valued at about $339,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 45,000 shares of the business’s stock in a transaction that occurred on 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 owned 516,017 shares in the company, valued at $75,911,260.87. The trade was a 8.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of Blackstone stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the transaction, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a report on Monday, June 8th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods upgraded shares of Blackstone to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Rothschild & Co Redburn lowered their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Finally, Barclays boosted their target price on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

Blackstone Price Performance

BX stock opened at $143.66 on Tuesday. The firm has a 50 day simple moving average of $129.20 and a two-hundred day simple moving average of $122.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $107.83 billion, a PE ratio of 32.14, a P/E/G ratio of 1.56 and a beta of 1.55. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09.

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

Blackstone Increases Dividend

The company also recently disclosed 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. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. Blackstone’s dividend payout ratio is currently 115.44%.

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.