Corient Private Wealth LP Takes $44.31 Million Position in Blackstone Inc. $BX

Key Points

• Corient Private Wealth LP acquired 422,221 Blackstone shares during the second quarter, valued at approximately $44.31 million, giving it about a 0.06% stake.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and 11 Holds producing a “Moderate Buy” consensus and an average price target of $149.43.
• Blackstone reported quarterly EPS of $1.52, beating estimates, while revenue rose 35.9% year over year to $5.04 billion; the company also increased its quarterly dividend to $1.29 per share.

Corient Private Wealth LP purchased a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 422,221 shares of the asset manager's stock, valued at approximately $44,314,000. Corient Private Wealth LP owned approximately 0.06% of Blackstone as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter valued at approximately $30,000. Ares Financial Consulting LLC acquired a new stake in Blackstone in the fourth quarter valued at $28,000. Kelleher Financial Advisors acquired a new position in shares of Blackstone during the 3rd quarter worth $34,000. Palladiem LLC purchased a new position in shares of Blackstone in the 4th quarter valued at about $31,000. Finally, Entrust Financial LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BX shares. Royal Bank Of Canada increased their target price on shares of Blackstone from $161.00 to $169.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Dbs Bank upgraded Blackstone to a "moderate buy" rating in a report on Wednesday, May 27th. Sanford C. Bernstein began coverage on Blackstone in a report on Monday, June 8th. They set an "outperform" rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Blackstone in a report on Monday, June 8th. They issued a "buy" rating on the stock. Finally, HSBC reaffirmed a "hold" rating and set a $135.00 price target on shares of Blackstone in a research note on Monday, July 20th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of "Moderate Buy" and a consensus price target of $149.43.

Insider Buying and Selling at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the transaction, the insider owned 7,882,145 shares in the company, valued at $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 45,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total value of $6,619,950.00. Following the completion of the transaction, the insider owned 516,017 shares of the company's stock, valued at $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 1,611,822 shares of company stock valued at $42,189,294 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $143.62 on Friday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The stock has a market cap of $107.80 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.56. The business's fifty day moving average price is $130.28 and its two-hundred day moving average price is $122.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business's revenue was up 35.9% on a year-over-year basis. On average, analysts forecast that Blackstone Inc. will post 5.99 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Blackstone's previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. Blackstone's payout ratio is presently 115.44%.

Blackstone Company Profile

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.

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