Partners Capital Investment Group LLP Invests $566,000 in Blackstone Inc. $BX

Key Points

• Partners Capital Investment Group LLP initiated a new position in Blackstone Inc. by acquiring 4,051 shares valued at approximately $566,000 in the first quarter.
• Blackstone recently increased its quarterly dividend to $1.03 per share, representing an annualized payout of $4.12 and a yield of 2.5%.
• Despite insider selling, firm fundamentals remain strong, with Blackstone reporting a net margin of 20.83% and a year-over-year revenue increase of 32.7%.

Partners Capital Investment Group LLP bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,051 shares of the asset manager's stock, valued at approximately $566,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PGIM Custom Harvest LLC lifted its stake in Blackstone by 76.0% in the 1st quarter. PGIM Custom Harvest LLC now owns 6,823 shares of the asset manager's stock worth $954,000 after purchasing an additional 2,947 shares in the last quarter. TFB Advisors LLC increased its holdings in shares of Blackstone by 35.1% in the first quarter. TFB Advisors LLC now owns 8,876 shares of the asset manager's stock worth $1,241,000 after purchasing an additional 2,304 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Blackstone by 41.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,854 shares of the asset manager's stock worth $958,000 after purchasing an additional 2,006 shares during the last quarter. GM Advisory Group LLC increased its holdings in shares of Blackstone by 400.8% in the first quarter. GM Advisory Group LLC now owns 14,057 shares of the asset manager's stock worth $1,965,000 after purchasing an additional 11,250 shares during the last quarter. Finally, Capital Analysts LLC increased its holdings in shares of Blackstone by 18.0% in the first quarter. Capital Analysts LLC now owns 7,215 shares of the asset manager's stock worth $1,009,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Insider Activity

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

Blackstone Stock Up 4.2%

Shares of NYSE:BX traded up $6.8030 on Friday, reaching $170.2430. The company had a trading volume of 5,187,162 shares, compared to its average volume of 3,728,099. The firm has a market capitalization of $125.48 billion, a PE ratio of 45.76, a PEG ratio of 1.38 and a beta of 1.71. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The firm's 50 day simple moving average is $161.69 and its 200-day simple moving average is $149.41. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Blackstone's revenue was up 32.7% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. As a group, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal 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 $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Blackstone's previous quarterly dividend of $0.93. Blackstone's payout ratio is 110.75%.

Wall Street Analysts Forecast Growth

BX has been the topic of several research reports. Wells Fargo & Company lifted their target price on Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Blackstone in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods upped their target price on Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. Finally, Evercore ISI boosted their price objective on Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $170.12.

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.