AlTi Global Inc. Has $434,000 Stock Position in Blackstone Inc. $BX

Key Points

• AlTi Global Inc. has increased its stakes in Blackstone Inc. by 161.5%, owning 3,104 shares valued at $434,000, as noted in their recent SEC filing.
• During the first quarter, institutional investors significantly invested in Blackstone, with GAMMA Investing LLC boosting its stake by 14,608.6%, and Vanguard Group Inc. acquiring an additional 1.6%.
• Blackstone increased its quarterly dividend from $0.93 to $1.03, representing an annualized payout of $4.12 with a yield of 2.5%.

AlTi Global Inc. lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 161.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,104 shares of the asset manager's stock after purchasing an additional 1,917 shares during the quarter. AlTi Global Inc.'s holdings in Blackstone were worth $434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund raised its position in Blackstone by 105.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager's stock valued at $1,874,000 after buying an additional 6,878 shares during the last quarter. Parallel Advisors LLC raised its position in Blackstone by 6.6% in the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager's stock valued at $4,363,000 after buying an additional 1,943 shares during the last quarter. Comprehensive Money Management Services LLC acquired a new stake in Blackstone in the 4th quarter valued at approximately $1,747,000. Narwhal Capital Management grew its stake in Blackstone by 34.3% in the first quarter. Narwhal Capital Management now owns 64,614 shares of the asset manager's stock valued at $9,032,000 after purchasing an additional 16,486 shares in the last quarter. Finally, Heartland Bank & Trust Co bought a new position in Blackstone in the first quarter valued at approximately $794,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Performance

BX traded up $0.36 during trading on Tuesday, hitting $173.66. The stock had a trading volume of 1,278,356 shares, compared to its average volume of 4,148,461. The company has a 50 day moving average price of $168.03 and a 200-day moving average price of $149.89. The firm has a market cap of $128.00 billion, a price-to-earnings ratio of 46.68, a P/E/G ratio of 1.38 and a beta of 1.77. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. As a group, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a $1.03 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.4%. Blackstone's dividend payout ratio is presently 110.75%.

Insiders Place Their Bets

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat acquired 222 shares of the company's stock in a transaction on Monday, August 11th. The stock was bought at an average cost of $170.29 per share, with a total value of $37,804.38. Following the completion of the acquisition, the director directly owned 38,753 shares in the company, valued at approximately $6,599,248.37. This represents a 0.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,189,806 shares of company stock worth $30,046,627 and sold 16,850,134 shares worth $131,641,986. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

BX has been the subject of a number of analyst reports. JMP Securities raised their price target on Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a research note on Friday, July 25th. The Goldman Sachs Group restated a "neutral" rating on shares of Blackstone in a research note on Friday, July 25th. Piper Sandler lifted their target price on Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Dbs Bank upgraded Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company lifted their target price on Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $172.38.

Blackstone 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.