Dupont Capital Management Corp Sells 18,703 Shares of Blackstone Inc. $BX

Key Points

• Dupont Capital Management Corp decreased its stake in Blackstone Inc. by 32.4%, selling 18,703 shares, and now holds 39,072 shares valued at approximately $5.84 million.
• Blackstone recently increased its dividend from $0.93 to $1.03 per share, resulting in a 2.6% annual yield.
• The company's stock recorded a 2.7% increase on Tuesday, with a market cap of $118.36 billion and a P/E ratio of 43.16.

Dupont Capital Management Corp reduced its stake in Blackstone Inc. (NYSE:BX - Free Report) by 32.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,072 shares of the asset manager's stock after selling 18,703 shares during the quarter. Dupont Capital Management Corp's holdings in Blackstone were worth $5,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund increased its stake 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. Kera Capital Partners Inc. acquired a new stake in Blackstone in the 2nd quarter valued at $273,000. Sandy Cove Advisors LLC increased its stake in Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager's stock valued at $1,801,000 after buying an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in shares of Blackstone during the 2nd quarter worth about $423,000. Finally, Edmond DE Rothschild Holding S.A. increased its stake in shares of Blackstone by 14.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager's stock worth $2,056,000 after purchasing an additional 1,863 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 2.7%

Shares of BX opened at $160.57 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $118.36 billion, a P/E ratio of 43.16, a price-to-earnings-growth ratio of 1.27 and a beta of 1.77. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm's 50-day simple moving average is $171.47 and its 200 day simple moving average is $155.23.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm 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%. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio is currently 110.75%.

Insider Buying and Selling at Blackstone

In related news, 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 transaction of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. This represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider owned 737,248 shares of the company's stock, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BX shares. JMP Securities boosted their price objective on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a research note on Friday, July 25th. Piper Sandler lowered their price objective on shares of Blackstone from $181.00 to $173.00 and set a "neutral" rating on the stock in a research note on Thursday, October 9th. Weiss Ratings restated a "hold (c)" rating on shares of Blackstone in a research note on Wednesday, October 8th. Dbs Bank upgraded shares of Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Finally, HSBC upped their price target on shares of Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Blackstone currently has an average rating of "Moderate Buy" and an average target price of $180.26.

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.

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