Invictus Private Wealth LLC Makes New Investment in Blackstone Inc. $BX

Key Points

• Invictus Private Wealth LLC has acquired a new stake in Blackstone Inc., purchasing 2,080 shares valued at approximately $311,000 during the 2nd quarter.
• Blackstone recently reported earnings of $0.97 per share with revenue of $2.49 billion for the quarter and announced an increase in its quarterly dividend from $0.93 to $1.03.
• Several hedge funds, including Kingstone Capital Partners, have significantly increased their stakes in Blackstone, indicating strong institutional interest, with institutional investors owning 70.00% of the company's stock.

Invictus Private Wealth LLC bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,080 shares of the asset manager's stock, valued at approximately $311,000.

Several other hedge funds also recently modified their holdings of BX. Kingstone Capital Partners Texas LLC boosted its stake in shares of Blackstone by 519,669.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager's stock valued at $10,490,411,000 after purchasing an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Blackstone by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager's stock valued at $9,504,702,000 after purchasing an additional 1,102,949 shares during the last quarter. Nuveen LLC bought a new position in shares of Blackstone in the 1st quarter valued at about $151,524,000. Amundi boosted its stake in Blackstone by 69.3% during the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager's stock worth $323,000,000 after acquiring an additional 990,947 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager's stock worth $739,761,000 after acquiring an additional 742,829 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

NYSE BX opened at $153.88 on Friday. The company has a quick ratio of 0.74, a current 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 company has a market capitalization of $113.42 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 1.31 and a beta of 1.77. The firm's 50 day moving average is $172.53 and its 200-day moving average is $154.17.

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

Blackstone Increases Dividend

The company also recently announced 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. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's dividend payout ratio (DPR) is 110.75%.

Insiders Place Their Bets

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. In the last ninety days, 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. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Blackstone in a research note on Friday, October 3rd. They set an "outperform" rating and a $190.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Blackstone in a research note on Wednesday. Citigroup reissued a "market perform" rating on shares of Blackstone in a research note on Saturday, July 19th. Piper Sandler reduced 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. Finally, TD Cowen dropped their target price on shares of Blackstone from $215.00 to $208.00 and set a "buy" rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of "Moderate Buy" and a consensus target price of $179.00.

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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