Public Employees Retirement System of Ohio Has $45.46 Million Stake in Blackstone Inc. $BX

Public Employees Retirement System of Ohio trimmed its holdings in Blackstone Inc. (NYSE:BX) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 303,885 shares of the asset manager’s stock after selling 146 shares during the period. Public Employees Retirement System of Ohio’s holdings in Blackstone were worth $45,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC grew its stake in Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares during the period. Vanguard Group Inc. grew its stake in Blackstone by 1.6% in the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock valued at $9,504,702,000 after acquiring an additional 1,102,949 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after buying an additional 742,829 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Blackstone by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after buying an additional 182,526 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Blackstone by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock worth $581,886,000 after buying an additional 117,724 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BX. Piper Sandler upped their price objective on Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Evercore ISI upped their price objective on Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $170.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays increased their price target on Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company increased their price target on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.38.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the stock in a transaction dated Monday, September 22nd. The shares were purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

NYSE:BX opened at $185.15 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $173.66 and its two-hundred day moving average price is $152.12. The firm has a market capitalization of $136.47 billion, a price-to-earnings ratio of 49.77, a P/E/G ratio of 1.51 and a beta of 1.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio is 110.75%.

Blackstone Company 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.