Steward Partners Investment Advisory LLC Boosts Holdings in Blackstone Inc. $BX

Steward Partners Investment Advisory LLC lifted its position in Blackstone Inc. (NYSE:BX) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,845 shares of the asset manager’s stock after purchasing an additional 579 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Blackstone were worth $12,841,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BX. Kingstone Capital Partners Texas LLC boosted its position in shares of Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. lifted its stake in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Blackstone by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after acquiring an additional 227,416 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after purchasing an additional 742,829 shares during the period. Finally, Legal & General Group Plc grew its holdings in Blackstone by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock worth $678,037,000 after acquiring an additional 202,245 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 0.7%

Shares of NYSE BX opened at $141.61 on Tuesday. The stock has a market capitalization of $104.57 billion, a P/E ratio of 40.46, a PEG ratio of 1.18 and a beta of 1.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The business’s 50 day moving average is $158.38 and its two-hundred day moving average is $158.09. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The firm 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%. As a group, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a yield of 3.6%. Blackstone’s payout ratio is 147.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BMO Capital Markets reduced their target price on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Bank of America reduced their target price on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. TD Cowen dropped their target price on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.00.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction on Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the transaction, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Breyer purchased 13,900 shares of the firm’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 acquisition, the director owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 2,950,751 shares of company stock valued at $79,050,138 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Blackstone 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.