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Privium Fund Management UK Ltd Sells 10,140 Shares of Blackstone Inc. $BX

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Key Points

  • Privium Fund Management UK Ltd reduced its stake in Blackstone Inc. by 46.9%, selling 10,140 shares during the second quarter, leaving them with 11,460 shares valued at $1,760,000.
  • Institutional ownership remains strong, with 70.00% of the stock held by hedge funds and institutional investors, while analysts have a consensus rating of Moderate Buy for the stock.
  • Blackstone recently reported a quarterly dividend increase to $1.03 per share from $0.93, resulting in an annualized yield of 2.6%.
  • Interested in Blackstone? Here are five stocks we like better.

Privium Fund Management UK Ltd cut its position in Blackstone Inc. (NYSE:BX - Free Report) by 46.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,460 shares of the asset manager's stock after selling 10,140 shares during the quarter. Blackstone makes up about 1.2% of Privium Fund Management UK Ltd's holdings, making the stock its 3rd biggest position. Privium Fund Management UK Ltd's holdings in Blackstone were worth $1,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its position in shares of Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager's stock valued at $1,874,000 after acquiring an additional 6,878 shares during the period. Kera Capital Partners Inc. bought a new stake in Blackstone in the 2nd quarter valued at $273,000. Sandy Cove Advisors LLC increased its holdings in shares of Blackstone by 22.1% during the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager's stock worth $1,801,000 after purchasing an additional 2,182 shares during the period. Bourgeon Capital Management LLC bought a new stake in shares of Blackstone in the second quarter valued at about $423,000. Finally, Edmond DE Rothschild Holding S.A. increased its stake in Blackstone by 14.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager's stock valued at $2,056,000 after acquiring an additional 1,863 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

NYSE BX opened at $160.57 on Tuesday. The firm has a market cap of $118.36 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.27 and a beta of 1.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a 50 day moving average of $171.47 and a 200-day moving average of $155.23.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. On average, equities analysts forecast 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. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. This is an increase from Blackstone's previous quarterly dividend of $0.93. Blackstone's payout ratio is currently 110.75%.

Insider Buying and Selling

In other news, insider John G. Finley sold 21,500 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the transaction, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 90 days, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BX shares. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $180.00 to $171.00 and set a "market perform" rating on the stock in a report on Monday, October 13th. Citigroup decreased their price target on shares of Blackstone from $185.00 to $170.00 and set a "neutral" rating on the stock in a research note on Monday, October 13th. BMO Capital Markets began coverage on shares of Blackstone in a research note on Friday, October 3rd. They issued an "outperform" rating and a $190.00 price objective for the company. Piper Sandler lowered their target price 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. Finally, BNP Paribas Exane raised their price target on shares of Blackstone from $166.00 to $178.00 and gave the stock a "neutral" rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $180.26.

Read Our Latest Stock Analysis on BX

About Blackstone

(Free Report)

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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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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