Allspring Global Investments Holdings LLC Has $27.16 Million Position in Blackstone Inc. $BX

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Blackstone Inc. by 17.8%, now holding about $27.16 million worth of shares.
• Blackstone recently increased its quarterly dividend to $1.03 per share, up from $0.93, resulting in an annualized dividend of $4.12.
• Analysts have mixed ratings on Blackstone, with a consensus rating of "Moderate Buy" and a target price averaging $180.26.

Allspring Global Investments Holdings LLC raised its stake in Blackstone Inc. (NYSE:BX - Free Report) by 17.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,795 shares of the asset manager's stock after purchasing an additional 26,902 shares during the period. Allspring Global Investments Holdings LLC's holdings in Blackstone were worth $27,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. 1248 Management LLC acquired a new position in shares of Blackstone in the first quarter valued at about $25,000. von Borstel & Associates Inc. acquired a new position in shares of Blackstone in the first quarter valued at about $28,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone in the first quarter valued at about $28,000. Anderson Financial Strategies LLC acquired a new position in shares of Blackstone in the first quarter valued at about $28,000. Finally, Family CFO Inc acquired a new position in shares of Blackstone in the second quarter valued at about $28,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BX. Evercore ISI upped their price target on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Piper Sandler cut their price objective on shares of Blackstone from $181.00 to $173.00 and set a "neutral" rating for the company in a research report on Thursday, October 9th. HSBC upped their price objective on shares of Blackstone from $170.00 to $179.00 in a research report on Wednesday. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Blackstone in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $180.26.

Blackstone Stock Down 3.6%

BX stock opened at $158.01 on Friday. The stock has a market capitalization of $116.47 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 1.33 and a beta of 1.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The firm has a 50-day moving average price of $171.91 and a 200-day moving average price of $154.68.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $2.49 billion during the quarter. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a $1.03 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's payout ratio is currently 110.75%.

Insider Buying and Selling

In other 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares of the company's stock, valued at $122,237,547.33. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,538,345 shares of company stock valued at $65,046,628 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is owned by corporate insiders.

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.

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