Orion Porfolio Solutions LLC Increases Position in Blackstone Inc. $BX

Orion Porfolio Solutions LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 18.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,090 shares of the asset manager’s stock after purchasing an additional 5,834 shares during the period. Orion Porfolio Solutions LLC’s holdings in Blackstone were worth $5,698,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Arcus Capital Partners LLC boosted its stake in Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after buying an additional 58 shares in the last quarter. Mattern Wealth Management LLC boosted its stake in shares of Blackstone by 2.8% in the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 60 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Blackstone by 3.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 61 shares during the last quarter. Sage Rhino Capital LLC lifted its stake in Blackstone by 0.8% in the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after purchasing an additional 63 shares during the last quarter. Finally, WNY Asset Management LLC boosted its position in Blackstone by 1.7% during the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after buying an additional 64 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 324 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $146.92 per share, with a total value of $47,602.08. Following the transaction, the director directly owned 39,077 shares in the company, valued at approximately $5,741,192.84. The trade was a 0.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the business’s stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the acquisition, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 2,950,751 shares of company stock worth $79,050,138. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 1.1%

Shares of BX opened at $152.01 on Wednesday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $190.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average price is $149.83 and its 200-day moving average price is $158.99. The firm has a market capitalization of $112.25 billion, a price-to-earnings ratio of 43.43, a PEG ratio of 1.20 and a beta of 1.76.

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

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.4%. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Barclays boosted their price objective on Blackstone from $165.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday. Piper Sandler decreased their target price on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Bank of America cut their price target on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Finally, Morgan Stanley increased their target price on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.84.

Blackstone Company 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.