Blackstone Inc. $BX Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,317 shares of the asset manager’s stock after acquiring an additional 3,733 shares during the quarter. Blackstone accounts for about 0.9% of Chicago Partners Investment Group LLC’s holdings, making the stock its 21st biggest position. Chicago Partners Investment Group LLC’s holdings in Blackstone were worth $32,506,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BX. Kingstone Capital Partners Texas LLC raised its stake in shares of Blackstone by 519,669.1% during 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 during the last quarter. Vanguard Group Inc. raised its position in Blackstone by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after acquiring an additional 1,102,949 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Blackstone by 16.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after purchasing an additional 742,829 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Blackstone by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after purchasing an additional 182,526 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Blackstone by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock valued at $581,886,000 after buying an additional 117,724 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Price Performance

Blackstone stock opened at $156.37 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $115.26 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 1.27 and a beta of 1.77. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The firm has a 50 day moving average price of $171.66 and a 200 day moving average price of $154.82.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is presently 110.75%.

Insider Buying and Selling at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were 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 owned 7,506,209 shares of the company’s stock, 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. In the last ninety days, insiders have bought 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BX. The Goldman Sachs Group boosted their price target on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Bank of America reduced their target price on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. Keefe, Bruyette & Woods lowered their price target on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $180.26.

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.