Uhlmann Price Securities LLC Lowers Stock Holdings in Blackstone Inc. $BX

Uhlmann Price Securities LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.1% in the second quarter, Holdings Channel.com reports. The firm owned 39,403 shares of the asset manager’s stock after selling 853 shares during the period. Blackstone comprises about 4.2% of Uhlmann Price Securities LLC’s investment portfolio, making the stock its 3rd biggest position. Uhlmann Price Securities LLC’s holdings in Blackstone were worth $5,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BX. Illinois Municipal Retirement Fund grew its position in shares of Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares in the last quarter. Kera Capital Partners Inc. bought a new stake in shares of Blackstone during the second quarter valued at about $273,000. Sandy Cove Advisors LLC boosted its position in shares of Blackstone by 22.1% in the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after acquiring an additional 2,182 shares during the period. Bourgeon Capital Management LLC purchased a new stake in Blackstone in the 2nd quarter worth approximately $423,000. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Blackstone by 14.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after purchasing an additional 1,863 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Evercore ISI lifted their price target on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. HSBC raised their price objective on shares of Blackstone from $170.00 to $179.00 in a research report on Wednesday, October 15th. The Goldman Sachs Group increased their target price on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Piper Sandler cut their price objective on Blackstone from $181.00 to $173.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, BNP Paribas Exane boosted their target price on Blackstone from $166.00 to $178.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $180.26.

Blackstone Trading Down 1.0%

NYSE BX opened at $156.37 on Monday. The stock has a 50-day moving average of $171.66 and a 200-day moving average of $154.98. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market cap of $115.26 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.77.

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

Blackstone Increases Dividend

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

Insider Activity at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of Blackstone stock in a transaction dated Monday, September 22nd. The shares were purchased at an average cost 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 approximately $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders bought 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $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.