ABN Amro Investment Solutions Invests $6.18 Million in Blackstone Inc. $BX

ABN Amro Investment Solutions bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 41,300 shares of the asset manager’s stock, valued at approximately $6,178,000.

Several other institutional investors have also bought and sold shares of the business. Arcus Capital Partners LLC grew its stake in shares of Blackstone by 1.2% during the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after buying an additional 58 shares during the last quarter. Mattern Wealth Management LLC grew its position in Blackstone by 2.8% in the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after acquiring an additional 60 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Blackstone by 3.5% during the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock worth $267,000 after purchasing an additional 61 shares during the last quarter. Sage Rhino Capital LLC grew its holdings in shares of Blackstone by 0.8% in the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after purchasing an additional 63 shares during the last quarter. Finally, WNY Asset Management LLC lifted its holdings in Blackstone by 1.7% during the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after buying an additional 64 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen decreased their price objective on Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a report on Friday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Jefferies Financial Group reduced their price objective on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft set a $166.00 target price on Blackstone and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Evercore ISI decreased their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and a consensus price target of $179.74.

Blackstone Stock Down 3.4%

Shares of NYSE BX opened at $139.44 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $102.97 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 1.18 and a beta of 1.76. The business’s 50 day moving average is $163.69 and its two-hundred day moving average is $157.54. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion during the quarter. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.7%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s payout ratio is currently 147.43%.

Insider Activity at Blackstone

In other Blackstone news, Director James Breyer bought 13,900 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the transaction, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought 2,565,543 shares of company stock worth $69,050,139 over the last ninety days. Company 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.