Cidel Asset Management Inc. Purchases 193 Shares of Blackstone Inc. $BX

Cidel Asset Management Inc. boosted its position in Blackstone Inc. (NYSE:BX) by 12.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,687 shares of the asset manager’s stock after purchasing an additional 193 shares during the quarter. Cidel Asset Management Inc.’s holdings in Blackstone were worth $252,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Illinois Municipal Retirement Fund grew its stake in shares of Blackstone by 105.4% during the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock worth $1,874,000 after acquiring an additional 6,878 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in shares of Blackstone during the second quarter worth about $273,000. Sandy Cove Advisors LLC grew its stake in shares of Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after acquiring an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in Blackstone in the second quarter valued at approximately $423,000. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Blackstone by 14.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after buying an additional 1,863 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 2.7%

Shares of BX stock opened at $160.57 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $118.36 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.27 and a beta of 1.77. The stock has a 50 day simple moving average of $171.47 and a 200-day simple moving average of $155.23. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. On average, equities research analysts expect 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, August 11th. Stockholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is currently 110.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. HSBC upped their target price on Blackstone from $170.00 to $179.00 in a research report on Wednesday, October 15th. Barclays dropped their target price on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Blackstone from $160.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group upped their target price on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Finally, TD Cowen decreased their price target on Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $180.26.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the transaction, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

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.