Blackstone Inc. $BX Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,340 shares of the asset manager’s stock after buying an additional 17,350 shares during the quarter. Quantinno Capital Management LP’s holdings in Blackstone were worth $27,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BX. Redwood Financial Network Corp raised its holdings in Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares during the last quarter. Benchmark Financial Wealth Advisors LLC grew its holdings in Blackstone by 0.9% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after purchasing an additional 69 shares during the last quarter. Parcion Private Wealth LLC increased its position in shares of Blackstone by 0.6% in the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 70 shares in the last quarter. Trivium Point Advisory LLC boosted its position in shares of Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock worth $418,000 after buying an additional 70 shares in the last quarter. Finally, Zacks Investment Management grew its stake in Blackstone by 2.1% in the 3rd quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the transaction, the insider directly owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 10,825,959 shares of company stock worth $224,789,900 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.1%

Shares of NYSE BX opened at $128.18 on Friday. The firm has a market cap of $95.22 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.72. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The firm’s 50 day moving average price is $121.67 and its 200 day moving average price is $123.87.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the firm posted $0.98 EPS. Blackstone’s revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Blackstone Inc. will post 6 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio is 103.80%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research reports. Weiss Ratings upgraded shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Citizens Jmp dropped their price objective on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada raised their price target on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, BNP Paribas Exane reduced their price objective on Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.95.

Blackstone Profile

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.