Rockefeller Capital Management L.P. Buys 30,321 Shares of Blackstone Inc. $BX

Rockefeller Capital Management L.P. raised its stake in shares of Blackstone Inc. (NYSE:BX) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 721,210 shares of the asset manager’s stock after purchasing an additional 30,321 shares during the period. Rockefeller Capital Management L.P. owned 0.10% of Blackstone worth $107,879,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. 1248 Management LLC acquired a new stake in shares of Blackstone in the first quarter valued at about $25,000. Family CFO Inc bought a new stake in shares of Blackstone in the second quarter valued at approximately $28,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone during the first quarter valued at about $28,000. Anderson Financial Strategies LLC bought a new position in Blackstone during the first quarter valued at about $28,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director James Breyer acquired 13,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the acquisition, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This represents a 25.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction dated Monday, September 22nd. The stock was bought at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the transaction, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,565,543 shares of company stock valued at $69,050,139 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $141.46 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $104.46 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 1.18 and a beta of 1.76. The firm’s 50 day moving average is $163.12 and its 200-day moving average is $157.77. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion for the quarter. Sell-side analysts forecast 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, November 10th. Stockholders of record on Monday, November 3rd were paid a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. Blackstone’s payout ratio is 147.43%.

Analysts Set New Price Targets

A number of research analysts recently commented on BX shares. Piper Sandler cut their target price on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Citigroup reduced their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, October 13th. JPMorgan Chase & Co. dropped their price target on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Finally, BMO Capital Markets decreased their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and a consensus target price of $179.00.

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.