Blackstone Inc. $BX Shares Purchased by Osprey Private Wealth LLC

Osprey Private Wealth LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 29.6% during the 3rd quarter, Holdings Channel reports. The firm owned 19,960 shares of the asset manager’s stock after acquiring an additional 4,560 shares during the quarter. Osprey Private Wealth LLC’s holdings in Blackstone were worth $3,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Wedmont Private Capital raised its stake in Blackstone by 5.0% in the 3rd quarter. Wedmont Private Capital now owns 8,239 shares of the asset manager’s stock worth $1,359,000 after acquiring an additional 390 shares during the last quarter. Czech National Bank lifted its holdings in shares of Blackstone by 5.0% during the third quarter. Czech National Bank now owns 187,205 shares of the asset manager’s stock worth $31,984,000 after purchasing an additional 8,854 shares during the period. Chesley Taft & Associates LLC increased its holdings in Blackstone by 9.3% in the 3rd quarter. Chesley Taft & Associates LLC now owns 92,758 shares of the asset manager’s stock worth $15,848,000 after buying an additional 7,926 shares during the period. Carr Financial Group Corp acquired a new stake in Blackstone during the 3rd quarter valued at approximately $256,000. Finally, Cypress Point Wealth Management LLC acquired a new stake in shares of Blackstone in the third quarter worth $220,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, Director James Breyer bought 13,900 shares of the stock in a transaction on Tuesday, November 4th. The shares were bought at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the purchase, the director directly owned 68,906 shares in the company, valued at $9,912,817.16. This trade represents a 25.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the purchase, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This represents a 2.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 2,950,751 shares of company stock worth $79,050,138 in the last quarter. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on BX. BMO Capital Markets lowered their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. JPMorgan Chase & Co. dropped their target price on Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. JMP Securities restated a “market outperform” rating and issued a $195.00 price objective on shares of Blackstone in a research report on Friday, October 24th. Bank of America cut their target price on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Finally, Morgan Stanley raised their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.95.

Blackstone Price Performance

Blackstone stock opened at $153.10 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The company’s fifty day moving average price is $149.64 and its 200 day moving average price is $158.95. The stock has a market capitalization of $113.06 billion, a P/E ratio of 43.74, a P/E/G ratio of 1.21 and a beta of 1.76. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The business had revenue of $2.49 billion for the quarter. As a group, 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, November 10th. Stockholders of record on Monday, November 3rd were given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Blackstone 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.