Blackstone Inc. (NYSE:BX) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Blackstone Inc. (NYSE:BX) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,430,909 shares of the asset manager’s stock after purchasing an additional 116,367 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Blackstone were worth $525,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone during the 2nd quarter worth $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone during the 2nd quarter worth $27,000. West Financial Advisors LLC acquired a new stake in Blackstone during the 3rd quarter worth $27,000. Bank & Trust Co acquired a new stake in Blackstone during the 2nd quarter worth $29,000. Finally, Ridgewood Investments LLC purchased a new position in Blackstone during the 2nd quarter worth $31,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on BX shares. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group raised their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.63.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $189.02 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $136.47 billion, a P/E ratio of 64.96, a PEG ratio of 1.64 and a beta of 1.49. The company has a 50-day moving average of $168.63 and a two-hundred day moving average of $144.38. Blackstone Inc. has a 12-month low of $106.00 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, research analysts predict that Blackstone Inc. will post 4.4 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 118.21%.

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.