210,000 Shares in Blackstone Inc. $BX Bought by One Madison Group LLC

One Madison Group LLC purchased a new stake in Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 210,000 shares of the asset manager’s stock, valued at approximately $31,412,000. Blackstone comprises approximately 3.3% of One Madison Group LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also recently modified their holdings of BX. Traub Capital Management LLC acquired a new position in Blackstone in the second quarter valued at approximately $27,000. 1248 Management LLC acquired a new position in shares of Blackstone in the 1st quarter valued at $25,000. Family CFO Inc purchased a new stake in Blackstone during the second quarter worth $28,000. Wealth Preservation Advisors LLC purchased a new position in Blackstone in the first quarter valued at $28,000. Finally, Anderson Financial Strategies LLC acquired a new position in shares of Blackstone in the first quarter worth about $28,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BMO Capital Markets cut their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Keefe, Bruyette & Woods cut their price objective on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. Bank of America decreased their target price on Blackstone from $199.00 to $189.00 in a research report on Wednesday. Barclays reduced their price objective on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, October 24th. Finally, Jefferies Financial Group dropped their target price on shares of Blackstone from $199.00 to $187.00 in a research report on Monday, November 10th. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $178.47.

Blackstone Trading Down 1.6%

Shares of BX stock opened at $154.05 on Friday. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $192.17. The firm has a market capitalization of $113.76 billion, a P/E ratio of 44.01, a PEG ratio of 1.25 and a beta of 1.76. The stock’s fifty day moving average is $150.76 and its two-hundred day moving average is $158.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The business had revenue of $2.49 billion during the quarter. Research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is currently 147.43%.

Insider Transactions at Blackstone

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the transaction, the insider owned 2,161 shares in the company, valued at approximately $21,610. This trade represents a 99.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Breyer bought 13,900 shares of the business’s stock in a transaction 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 completion of the purchase, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 2,950,751 shares of company stock valued at $79,050,138. 1.00% of the stock is currently owned by company insiders.

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.