Torray Investment Partners LLC Buys 3,413 Shares of Blackstone Inc. $BX

Torray Investment Partners LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 2.6% in the third quarter, Holdings Channel reports. The fund owned 137,060 shares of the asset manager’s stock after purchasing an additional 3,413 shares during the period. Blackstone accounts for about 3.2% of Torray Investment Partners LLC’s portfolio, making the stock its 7th biggest position. Torray Investment Partners LLC’s holdings in Blackstone were worth $23,417,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BX. Robeco Institutional Asset Management B.V. increased its stake in Blackstone by 109.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 16,637 shares of the asset manager’s stock valued at $2,842,000 after buying an additional 8,709 shares during the period. Bigelow Investment Advisors LLC increased its stake in shares of Blackstone by 7.0% during the third quarter. Bigelow Investment Advisors LLC now owns 3,847 shares of the asset manager’s stock worth $657,000 after acquiring an additional 253 shares during the period. CWA Asset Management Group LLC raised its holdings in Blackstone by 2.1% during the third quarter. CWA Asset Management Group LLC now owns 80,061 shares of the asset manager’s stock worth $13,678,000 after purchasing an additional 1,651 shares in the last quarter. Kercheville Advisors LLC boosted its holdings in Blackstone by 4.2% in the 3rd quarter. Kercheville Advisors LLC now owns 54,590 shares of the asset manager’s stock valued at $9,327,000 after purchasing an additional 2,210 shares in the last quarter. Finally, LS Investment Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter worth approximately $302,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This represents a 25.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 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, with a total value of $9,999,999.68. Following the completion of the acquisition, the insider directly owned 16,332,883 shares in the company, valued at $424,001,642.68. The trade was a 2.42% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 797,148 shares of company stock worth $24,050,153. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 2.2%

Shares of BX opened at $162.25 on Tuesday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $190.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $148.87 and a 200-day simple moving average of $160.63. The stock has a market cap of $119.82 billion, a price-to-earnings ratio of 46.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.75.

Blackstone (NYSE:BX) last announced 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%. Equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.2%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is 147.43%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BX shares. BNP Paribas Exane cut their price objective on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. Piper Sandler reduced their price target on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, UBS Group restated a “neutral” rating on shares of Blackstone in a report on Wednesday, December 24th. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and a consensus target price of $179.95.

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.