Blackstone Inc. $BX Shares Acquired by Dakota Wealth Management

Dakota Wealth Management lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 16.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,047 shares of the asset manager’s stock after acquiring an additional 8,245 shares during the period. Dakota Wealth Management’s holdings in Blackstone were worth $9,746,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BX. Brighton Jones LLC raised its stake in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares during the last quarter. United Bank lifted its holdings in shares of Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after purchasing an additional 1,729 shares during the last quarter. Ingalls & Snyder LLC boosted its position in shares of Blackstone by 5.6% in the 2nd quarter. Ingalls & Snyder LLC now owns 3,124 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 165 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Blackstone by 18.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 71,081 shares of the asset manager’s stock worth $10,632,000 after buying an additional 10,997 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Down 6.3%

Blackstone stock opened at $113.61 on Tuesday. The stock’s 50 day moving average price is $146.84 and its 200 day moving average price is $156.03. The company has a market cap of $83.89 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 0.94 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75. Blackstone Inc. has a 1-year low of $111.04 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping the consensus estimate of $1.54 by $0.21. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business’s revenue was up 41.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 EPS. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a dividend of $1.49 per share. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Monday, February 9th. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is 153.61%.

Insider Activity at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 384,468 shares of the stock in a transaction on Friday, December 19th. The shares were bought at an average price of $26.01 per share, with a total value of $10,000,012.68. Following the completion of the acquisition, the insider owned 16,525,117 shares of the company’s stock, valued at approximately $429,818,293.17. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the transaction, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BX has been the subject of several research analyst reports. Citizens Jmp reissued a “market outperform” rating and issued a $195.00 price objective on shares of Blackstone in a report on Friday, January 30th. Bank of America lowered their price objective on shares of Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Barclays decreased their target price on shares of Blackstone from $171.00 to $164.00 and set an “equal weight” rating for the company in a research note on Friday, January 30th. TD Cowen reduced their price objective on Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, BMO Capital Markets lowered their target price on Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $169.38.

About Blackstone

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.