Campbell & CO Investment Adviser LLC Purchases 19,321 Shares of Blackstone Inc. $BX

Campbell & CO Investment Adviser LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 92.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 40,113 shares of the asset manager’s stock after acquiring an additional 19,321 shares during the quarter. Blackstone makes up approximately 0.4% of Campbell & CO Investment Adviser LLC’s holdings, making the stock its 26th biggest holding. Campbell & CO Investment Adviser LLC’s holdings in Blackstone were worth $6,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC boosted its position in Blackstone by 3.2% during the 2nd quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after acquiring an additional 1,949 shares in the last quarter. Redmond Asset Management LLC boosted its position in shares of Blackstone by 21.2% during the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after purchasing an additional 3,281 shares in the last quarter. Kera Capital Partners Inc. bought a new position in Blackstone in the second quarter worth $273,000. Bourgeon Capital Management LLC purchased a new position in Blackstone during the second quarter valued at $423,000. Finally, Sandy Cove Advisors LLC grew its position in shares of Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after buying an additional 2,182 shares during the period. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BX has been the topic of a number of recent research reports. Piper Sandler cut their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. HSBC cut their price target on Blackstone from $179.00 to $178.00 in a research note on Monday, October 27th. TD Cowen lowered their price objective on Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Finally, BMO Capital Markets dropped their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.74.

Blackstone Stock Up 1.8%

BX stock opened at $146.00 on Friday. The business’s 50-day moving average is $165.79 and its two-hundred day moving average is $157.40. The company has a market cap of $107.61 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75.

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

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be issued a $1.29 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is 147.43%.

Insider Buying and Selling at Blackstone

In other news, Director James Breyer bought 13,900 shares of Blackstone stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the acquisition, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. The trade was a 25.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was purchased at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 2,565,415 shares of company stock valued at $69,037,981 and have sold 16,875,234 shares valued at $136,847,628. 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.