Insigneo Advisory Services LLC Boosts Holdings in Blackstone Inc. (NYSE:BX)

Insigneo Advisory Services LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 34,718 shares of the asset manager’s stock after purchasing an additional 544 shares during the period. Blackstone accounts for approximately 0.5% of Insigneo Advisory Services LLC’s investment portfolio, making the stock its 24th biggest holding. Insigneo Advisory Services LLC’s holdings in Blackstone were worth $5,316,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of BX. State Street Corp lifted its stake in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the period. Wulff Hansen & CO. lifted its stake in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares during the period. Legal & General Group Plc lifted its stake in shares of Blackstone by 2.3% in the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after purchasing an additional 141,616 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Blackstone by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after purchasing an additional 61,739 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 0.9 %

Blackstone stock opened at $187.20 on Friday. The company has a 50-day simple moving average of $171.79 and a 200-day simple moving average of $146.50. The firm has a market capitalization of $135.16 billion, a P/E ratio of 64.33, a P/E/G ratio of 1.58 and a beta of 1.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a one year low of $111.05 and a one year high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate 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, equities analysts expect that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BX shares. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen boosted their price objective on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.63.

About Blackstone

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.