Blackstone Inc. (NYSE:BX) Shares Bought by Partners Group Holding AG

Partners Group Holding AG grew its stake in Blackstone Inc. (NYSE:BX) by 16.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 341,925 shares of the asset manager’s stock after purchasing an additional 48,783 shares during the period. Blackstone comprises approximately 3.5% of Partners Group Holding AG’s investment portfolio, making the stock its 8th largest position. Partners Group Holding AG’s holdings in Blackstone were worth $52,359,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. lifted its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares during the last quarter. Fidelis Capital Partners LLC increased its position in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Blackstone by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after purchasing an additional 64 shares during the period. Finally, Lindbrook Capital LLC increased its position in shares of Blackstone by 1.1% during the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock worth $879,000 after buying an additional 65 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BX. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. TD Cowen lifted their price objective on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $157.63.

Blackstone Stock Down 3.0 %

Blackstone stock opened at $193.12 on Tuesday. Blackstone Inc. has a fifty-two week low of $105.51 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $166.63 and its 200 day simple moving average is $143.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $139.43 billion, a PE ratio of 66.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Research analysts predict that Blackstone Inc. will post 4.4 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.78%. Blackstone’s payout ratio is currently 118.21%.

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.