Next Capital Management LLC Has $677,000 Stake in Blackstone Inc. $BX

Next Capital Management LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 18.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,526 shares of the asset manager’s stock after acquiring an additional 716 shares during the quarter. Next Capital Management LLC’s holdings in Blackstone were worth $677,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of Blackstone by 21.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 2,023 shares of the asset manager’s stock valued at $279,000 after acquiring an additional 364 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Blackstone in the 1st quarter worth approximately $36,000. Capital Advisors Inc. OK boosted its position in Blackstone by 0.8% during the first quarter. Capital Advisors Inc. OK now owns 223,591 shares of the asset manager’s stock worth $31,254,000 after purchasing an additional 1,794 shares during the period. Finally, Callan Capital LLC raised its position in shares of Blackstone by 2.4% in the first quarter. Callan Capital LLC now owns 7,528 shares of the asset manager’s stock valued at $1,052,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the sale, the director directly owned 695,757 shares in the company, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the transaction, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 2,551,515 shares of company stock valued at $67,038,327 and sold 16,884,634 shares valued at $138,445,346. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BX. Piper Sandler lowered their target price on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Jefferies Financial Group decreased their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company boosted their price objective on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.74.

Blackstone Price Performance

Shares of BX stock opened at $144.11 on Tuesday. The company has a market capitalization of $106.22 billion, a P/E ratio of 41.17, a P/E/G ratio of 1.18 and a beta of 1.77. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The stock has a 50 day moving average of $168.00 and a two-hundred day moving average of $157.09.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is currently 147.43%.

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.