Fox Run Management L.L.C. Takes $1.33 Million Position in Blackstone Inc. $BX

Fox Run Management L.L.C. purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 8,913 shares of the asset manager’s stock, valued at approximately $1,333,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew its holdings in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the period. MJP Associates Inc. ADV lifted its stake in Blackstone by 7.7% during the 1st quarter. MJP Associates Inc. ADV now owns 2,226 shares of the asset manager’s stock worth $311,000 after acquiring an additional 159 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in Blackstone by 119.5% in the 1st quarter. Fidelis Capital Partners LLC now owns 8,659 shares of the asset manager’s stock valued at $1,150,000 after buying an additional 4,714 shares during the period. Kesler Norman & Wride LLC increased its stake in shares of Blackstone by 157.9% during the first quarter. Kesler Norman & Wride LLC now owns 4,462 shares of the asset manager’s stock worth $624,000 after buying an additional 2,732 shares during the period. Finally, Callahan Advisors LLC purchased a new position in Blackstone in the first quarter valued at $227,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BX shares. The Goldman Sachs Group upped their target price on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group dropped their price objective on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods reduced their target price on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft set a $166.00 target price on Blackstone and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, HSBC dropped their price target on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.74.

Blackstone Stock Performance

NYSE BX opened at $146.00 on Friday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market capitalization of $107.61 billion, a P/E ratio of 41.71, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The business’s 50-day simple moving average is $165.79 and its 200-day simple moving average is $157.40.

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

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.5%. Blackstone’s dividend payout ratio (DPR) is currently 147.43%.

Insiders Place Their Bets

In related news, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the sale, the insider directly owned 737,248 shares of the company’s stock, valued at $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The SEC filing for this sale provides additional information. In the last ninety days, insiders acquired 2,565,415 shares of company stock valued at $69,037,981 and sold 16,875,234 shares valued at $136,847,628. 1.00% of the stock is currently owned by company insiders.

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.