Uhlmann Price Securities LLC Has $5.17 Million Position in Blackstone Inc. $BX

Uhlmann Price Securities LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 12.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 44,989 shares of the asset manager’s stock after acquiring an additional 5,057 shares during the quarter. Blackstone comprises about 0.3% of Uhlmann Price Securities LLC’s holdings, making the stock its 8th largest position. Uhlmann Price Securities LLC’s holdings in Blackstone were worth $5,173,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Jain Global LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $9,116,000. Fayez Sarofim & Co lifted its holdings in Blackstone by 1.9% in the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after buying an additional 24,237 shares during the period. Natixis Advisors LLC boosted its stake in Blackstone by 20.4% in the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after acquiring an additional 142,479 shares during the last quarter. Close Asset Management Ltd raised its position in shares of Blackstone by 16,035.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after acquiring an additional 1,133,197 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Blackstone by 2.1% in the 3rd quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after purchasing an additional 18,339 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $123.78 on Friday. The stock has a 50-day moving average price of $121.11 and a two-hundred day moving average price of $130.35. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The stock has a market cap of $91.95 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. Equities analysts forecast that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BMO Capital Markets upped their price objective on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Rothschild & Co Redburn reduced their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Piper Sandler upped their price target on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Barclays cut their price target on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, TD Cowen decreased their price objective on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 9,487,234 shares of company stock valued at $189,789,892 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.