97,000 Shares in Blackstone Inc. $BX Bought by Kids Capital Management L.P.

Key Points

• Kids Capital Management L.P. has invested approximately $13.56 million in Blackstone Inc., acquiring 97,000 shares, which now represent 14.9% of its portfolio.
• Analysts have shown optimism for Blackstone's stock, with several increasing their price targets and ratings, including a lift from $165.00 to $197.00 by Evercore ISI.
• Blackstone recently announced a quarterly dividend of $1.03 per share, increasing from the previous dividend of $0.93, resulting in an annualized yield of 2.4%.

Kids Capital Management L.P. bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 97,000 shares of the asset manager's stock, valued at approximately $13,559,000. Blackstone comprises 14.9% of Kids Capital Management L.P.'s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds have also bought and sold shares of BX. Ascent Group LLC raised its holdings in Blackstone by 0.9% in the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock valued at $1,469,000 after acquiring an additional 74 shares during the period. Global Assets Advisory LLC raised its holdings in Blackstone by 1.9% in the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock valued at $697,000 after acquiring an additional 75 shares during the period. Angeles Wealth Management LLC increased its holdings in shares of Blackstone by 0.6% during the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager's stock worth $1,652,000 after purchasing an additional 76 shares during the period. Aptus Capital Advisors LLC increased its holdings in shares of Blackstone by 0.9% during the fourth quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock worth $1,460,000 after purchasing an additional 78 shares during the period. Finally, Nicolet Advisory Services LLC raised its position in Blackstone by 0.7% during the first quarter. Nicolet Advisory Services LLC now owns 12,075 shares of the asset manager's stock valued at $1,539,000 after purchasing an additional 78 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods raised their price objective on Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Dbs Bank raised Blackstone to a "moderate buy" rating in a report on Tuesday, August 12th. JMP Securities raised their price objective on Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a report on Friday, July 25th. Finally, Cowen reissued a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of "Moderate Buy" and an average target price of $170.12.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David Payne sold 9,400 shares of Blackstone stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $169.97, for a total transaction of $1,597,718.00. Following the completion of the transaction, the chief accounting officer owned 54,488 shares of the company's stock, valued at $9,261,325.36. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 1,189,806 shares of company stock worth $30,046,627 and sold 16,850,134 shares worth $131,641,986. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Down 1.3%

BX stock traded down $2.1550 during mid-day trading on Tuesday, reaching $167.0650. 4,507,296 shares of the company traded hands, compared to its average volume of 4,239,944. The stock has a market cap of $123.14 billion, a price-to-earnings ratio of 44.91, a P/E/G ratio of 1.40 and a beta of 1.71. 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 fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm's 50 day moving average price is $159.63 and its 200 day moving average price is $149.62.

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 analysts' consensus estimates 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 company's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

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

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.