27,900 Shares in Blackstone Inc. $BX Purchased by Privium Fund Management UK Ltd

Privium Fund Management UK Ltd bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,900 shares of the asset manager’s stock, valued at approximately $3,205,000. Blackstone comprises about 1.3% of Privium Fund Management UK Ltd’s portfolio, making the stock its 19th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in Blackstone during the 4th quarter worth $28,000. Strive Asset Management LLC acquired a new position in Blackstone during the third quarter worth about $30,000. Palladiem LLC acquired a new stake in Blackstone in the 4th quarter valued at about $31,000. West Branch Capital LLC grew its position in shares of Blackstone by 26,600.0% in the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 266 shares in the last quarter. Finally, Entrust Financial LLC purchased a new position in Blackstone during the fourth quarter worth approximately $32,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 0.0%

BX opened at $143.94 on Monday. The business’s 50-day simple moving average is $126.51 and its 200-day simple moving average is $122.51. The company has a market cap of $108.04 billion, a P/E ratio of 32.20, a PEG ratio of 1.60 and a beta of 1.55. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, equities research analysts expect that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. Blackstone’s payout ratio is currently 115.44%.

Wall Street Analyst Weigh In

BX has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Rothschild & Co Redburn decreased their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. TD Cowen boosted their target price on Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Oppenheimer lifted their price objective on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Blackstone has an average rating of “Moderate Buy” and an average target price of $147.95.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total value of $4,066,500.00. Following the transaction, the insider directly owned 869,669 shares in the company, valued at approximately $117,883,632.95. This represents a 3.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.