Blackstone Inc. $BX Holdings Raised by Vestor Capital LLC

Vestor Capital LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 11,310.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,483 shares of the asset manager’s stock after buying an additional 123,392 shares during the quarter. Vestor Capital LLC’s holdings in Blackstone were worth $18,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in shares of Blackstone by 519,669.1% during the 2nd 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 purchasing an additional 70,118,948 shares during the period. Vanguard Group Inc. grew its stake in shares of Blackstone by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the last quarter. Geode Capital Management LLC lifted its stake in Blackstone by 1.4% during the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after purchasing an additional 227,416 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after acquiring an additional 742,829 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Blackstone by 4.7% during the second quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock valued at $678,037,000 after purchasing an additional 202,245 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BX. Keefe, Bruyette & Woods cut their price objective on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. TD Cowen reduced their price objective on Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Barclays decreased their price target on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, October 24th. Finally, Morgan Stanley boosted their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Insider Activity

In other Blackstone news, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction that occurred 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 owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were purchased at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 2,565,543 shares of company stock worth $69,050,139. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 3.0%

Shares of Blackstone stock opened at $142.59 on Friday. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The stock has a market capitalization of $105.30 billion, a P/E ratio of 40.74, a PEG ratio of 1.18 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $159.22 and a two-hundred day moving average price of $157.92.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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 net margin of 20.56% and a return on equity of 22.30%. Equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio is presently 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.