Blackstone Inc. (NYSE:BX) Position Raised by Partners Group Holding AG

Partners Group Holding AG raised its holdings in Blackstone Inc. (NYSE:BX) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 341,925 shares of the asset manager’s stock after acquiring an additional 48,783 shares during the period. Blackstone makes up 3.5% of Partners Group Holding AG’s investment portfolio, making the stock its 8th largest position. Partners Group Holding AG’s holdings in Blackstone were worth $52,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Wulff Hansen & CO. grew its holdings in shares of Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. International Assets Investment Management LLC raised its stake in 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 worth $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Blackstone by 213.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after buying an additional 937,084 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Blackstone by 468.4% in the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after buying an additional 912,685 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Blackstone by 7,917.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after acquiring an additional 395,011 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 3.0 %

Shares of BX stock opened at $193.12 on Tuesday. Blackstone Inc. has a 1 year low of $105.51 and a 1 year high of $200.96. The firm has a fifty day moving average price of $166.63 and a 200-day moving average price of $143.28. The company has a market cap of $139.43 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 1.69 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, equities analysts predict that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.78%. Blackstone’s payout ratio is 118.21%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BX has been the topic of a number of analyst reports. UBS Group upped their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Evercore ISI raised their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. TD Cowen upped their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Finally, Bank of America boosted their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.