NEOS Investment Management LLC Has $15.86 Million Stake in Blackstone Inc. $BX

NEOS Investment Management LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 43.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 92,826 shares of the asset manager’s stock after purchasing an additional 28,339 shares during the period. NEOS Investment Management LLC’s holdings in Blackstone were worth $15,859,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BX. Vanguard Group Inc. grew its position in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares during the period. Redmond Asset Management LLC increased its position in shares of Blackstone by 21.2% during the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after purchasing an additional 3,281 shares in the last quarter. Whittier Trust Co. lifted its holdings in Blackstone by 2.1% during the 3rd quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock valued at $58,337,000 after purchasing an additional 7,053 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Blackstone by 733.2% during the third quarter. Exchange Traded Concepts LLC now owns 13,715 shares of the asset manager’s stock worth $2,343,000 after buying an additional 12,069 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC raised its stake in shares of Blackstone by 259.8% in the second quarter. Longfellow Investment Management Co. LLC now owns 22,160 shares of the asset manager’s stock valued at $3,315,000 after acquiring an additional 16,001 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BX. Argus dropped their price target on Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. The Goldman Sachs Group cut their price target on Blackstone from $166.00 to $158.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Piper Sandler lowered their price objective on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Jefferies Financial Group reduced their target price on shares of Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Rothschild & Co Redburn dropped their price objective on shares of Blackstone from $165.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $171.76.

Insider Buying and Selling at Blackstone

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares in the company, valued at $21,610. This represents a 99.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 384,468 shares of Blackstone stock in a transaction on Friday, December 19th. The shares were acquired at an average price of $26.01 per share, for a total transaction of $10,000,012.68. Following the completion of the acquisition, the insider owned 16,525,117 shares of the company’s stock, valued at approximately $429,818,293.17. This represents a 2.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $131.35 on Wednesday. The firm’s 50 day moving average price is $149.21 and its two-hundred day moving average price is $157.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.76. The stock has a market cap of $97.00 billion, a PE ratio of 33.85, a PEG ratio of 1.01 and a beta of 1.76. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. The firm’s quarterly revenue was up 41.4% compared to the same quarter last year. As a group, analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were issued a dividend of $1.49 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, February 9th. Blackstone’s dividend payout ratio is presently 153.61%.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.