Blackstone Inc. $BX Stock Holdings Increased by Cwm LLC

Key Points

• Cwm LLC raised its holdings in Blackstone Inc. by 18.9%, owning over 52,843 shares valued at approximately $7.9 million after acquiring additional shares in the second quarter.
• Blackstone recently announced a quarterly dividend of $1.03, up from $0.93, resulting in an annualized dividend yield of 2.5%.
• Institutional investors own 70% of Blackstone’s stock, reflecting strong investor confidence in the asset manager.

Cwm LLC increased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,843 shares of the asset manager's stock after purchasing an additional 8,410 shares during the quarter. Cwm LLC's holdings in Blackstone were worth $7,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Brighton Jones LLC raised its holdings in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after purchasing an additional 2,035 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Blackstone by 5.2% in the 1st quarter. GAMMA Investing LLC now owns 9,462 shares of the asset manager's stock worth $1,323,000 after purchasing an additional 470 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Blackstone by 22.6% during the first quarter. Ritholtz Wealth Management now owns 11,981 shares of the asset manager's stock valued at $1,675,000 after acquiring an additional 2,206 shares during the period. Sound Income Strategies LLC raised its holdings in shares of Blackstone by 53.9% during the first quarter. Sound Income Strategies LLC now owns 1,453 shares of the asset manager's stock valued at $203,000 after acquiring an additional 509 shares during the period. Finally, Good Life Advisors LLC raised its holdings in shares of Blackstone by 2.9% during the first quarter. Good Life Advisors LLC now owns 11,677 shares of the asset manager's stock valued at $1,632,000 after acquiring an additional 334 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

BX stock opened at $164.04 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $120.91 billion, a price-to-earnings ratio of 44.10, a P/E/G ratio of 1.29 and a beta of 1.77. 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 of $172.22 and a two-hundred day moving average of $154.49.

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. The company had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. This is a positive change from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's payout ratio is presently 110.75%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BX. Bank of America cut their price target on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. JMP Securities boosted their price target on shares of Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a report on Friday, July 25th. Evercore ISI boosted their price objective on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price objective on shares of Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Citigroup lowered their price objective on shares of Blackstone from $185.00 to $170.00 and set a "neutral" rating on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Blackstone presently has a consensus rating of "Moderate Buy" and an average price target of $180.33.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 113,000 shares of the company's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company's stock, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the acquisition, the insider owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by insiders.

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.

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