Caxton Associates LLP Acquires New Position in Blackstone Inc. $BX

Caxton Associates LLP bought a new position in shares of Blackstone Inc. (NYSE:BX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,988 shares of the asset manager’s stock, valued at approximately $2,391,000.

Several other institutional investors have also recently made changes to their positions in BX. Kingstone Capital Partners Texas LLC increased its stake in Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after acquiring an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. raised its holdings in Blackstone by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after buying an additional 1,494,796 shares during the period. Geode Capital Management LLC lifted its position in Blackstone by 1.4% in the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after buying an additional 227,416 shares during the last quarter. Norges Bank acquired a new stake in shares of Blackstone during the second quarter valued at about $1,071,348,000. Finally, Legal & General Group Plc lifted its holdings in shares of 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. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Blackstone from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Citigroup cut their price objective on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Jefferies Financial Group lowered their target price on Blackstone from $199.00 to $187.00 in a report on Monday, November 10th. BMO Capital Markets reduced their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Finally, Barclays lifted their price objective on shares of Blackstone from $165.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and an average price target of $178.84.

Blackstone Stock Down 1.9%

Shares of Blackstone stock opened at $151.13 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $192.17. The company has a market capitalization of $111.60 billion, a P/E ratio of 43.18, a P/E/G ratio of 1.20 and a beta of 1.76. The company has a 50 day moving average of $150.41 and a 200 day moving average of $158.82.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. As a group, research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders 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 dividend yield of 3.4%. Blackstone’s dividend payout ratio is 147.43%.

Insider Transactions at Blackstone

In related news, Director James Breyer purchased 13,900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the purchase, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the stock in a transaction dated Friday, November 21st. The stock was bought at an average price of $25.96 per share, with a total value of $9,999,999.68. Following the acquisition, the insider owned 16,332,883 shares in the company, valued at approximately $424,001,642.68. This represents a 2.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 2,950,751 shares of company stock valued at $79,050,138 over the last three months. 1.00% of the stock is owned by corporate insiders.

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.