Blackstone Inc. $BX Shares Bought by NewSquare Capital LLC

NewSquare Capital LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 90.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 778 shares of the asset manager’s stock after buying an additional 369 shares during the quarter. NewSquare Capital LLC’s holdings in Blackstone were worth $116,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Kera Capital Partners Inc. acquired a new stake in Blackstone during the second quarter worth about $273,000. Redmond Asset Management LLC boosted its holdings in Blackstone by 21.2% during the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after buying an additional 3,281 shares in the last quarter. Bourgeon Capital Management LLC purchased a new stake in Blackstone during the second quarter worth $423,000. Sandy Cove Advisors LLC boosted its holdings in Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after buying an additional 2,182 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its holdings 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 worth $2,056,000 after buying an additional 1,863 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was bought at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Breyer bought 13,170 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were acquired at an average cost of $151.23 per share, with a total value of $1,991,699.10. Following the purchase, the director owned 55,006 shares of the company’s stock, valued at $8,318,557.38. The trade was a 31.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 2,551,515 shares of company stock valued at $67,038,327 and sold 16,884,634 shares valued at $138,445,346. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Evercore ISI lowered their price target on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. HSBC decreased their price objective on shares of Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. BMO Capital Markets decreased their price objective 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. Citigroup decreased their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, Morgan Stanley raised their target price on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.74.

Blackstone Stock Performance

NYSE:BX opened at $142.94 on Wednesday. The company’s 50-day moving average price is $167.43 and its 200-day moving average price is $157.18. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The company has a market cap of $105.36 billion, a P/E ratio of 40.84, a P/E/G ratio of 1.18 and a beta of 1.77. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a dividend of $1.29 per share. The ex-dividend date is Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.6%. Blackstone’s dividend payout ratio (DPR) is 147.43%.

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.