Blackstone Inc. $BX is Ayrshire Capital Management LLC’s 10th Largest Position

Ayrshire Capital Management LLC raised its stake in Blackstone Inc. (NYSE:BX) by 197.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,892 shares of the asset manager’s stock after buying an additional 28,448 shares during the quarter. Blackstone comprises about 3.4% of Ayrshire Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Ayrshire Capital Management LLC’s holdings in Blackstone were worth $7,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. 1248 Management LLC acquired a new stake in Blackstone in the 1st quarter valued at approximately $25,000. Traub Capital Management LLC purchased a new stake in shares of Blackstone in the 2nd quarter valued at $27,000. Anderson Financial Strategies LLC purchased a new position in Blackstone during the 1st quarter valued at about $28,000. Family CFO Inc acquired a new position in Blackstone in the 2nd quarter valued at about $28,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Blackstone during the second quarter worth about $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $164.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Morgan Stanley upped their price objective on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Citigroup dropped their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Evercore ISI lowered their target price on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Finally, TD Cowen lowered their target price on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $179.95.

Blackstone Stock Performance

NYSE BX opened at $154.72 on Wednesday. The company has a market capitalization of $114.25 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 1.32 and a beta of 1.76. The business’s 50-day moving average price is $148.79 and its 200 day moving average price is $160.06. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its quarterly 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 net margin of 20.56% and a return on equity of 22.30%. On average, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s dividend payout ratio is currently 147.43%.

Insider Activity

In other Blackstone news, Director Ruth Porat acquired 324 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $146.92 per share, with a total value of $47,602.08. Following the acquisition, the director directly owned 39,077 shares of the company’s stock, valued at $5,741,192.84. This represents a 0.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 384,468 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was purchased at an average cost of $26.01 per share, for a total transaction of $10,000,012.68. Following the purchase, the insider directly owned 16,525,117 shares in the company, valued at approximately $429,818,293.17. This represents a 2.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 797,148 shares of company stock worth $24,050,153 over the last ninety days. 1.00% of the stock is owned by company insiders.

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.