Y Intercept Hong Kong Ltd Purchases New Stake in Blackstone Inc. (NYSE:BX)

Y Intercept Hong Kong Ltd purchased a new stake in Blackstone Inc. (NYSE:BX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 21,063 shares of the asset manager’s stock, valued at approximately $3,225,000.

Several other hedge funds have also recently bought and sold shares of BX. Northeast Financial Consultants Inc raised its stake in shares of Blackstone by 0.4% during the third quarter. Northeast Financial Consultants Inc now owns 66,066 shares of the asset manager’s stock valued at $10,117,000 after purchasing an additional 246 shares during the period. Mosaic Financial Group LLC boosted its holdings in Blackstone by 249.2% in the third quarter. Mosaic Financial Group LLC now owns 5,881 shares of the asset manager’s stock worth $901,000 after purchasing an additional 4,197 shares during the period. Kensington Investment Counsel LLC boosted its holdings in Blackstone by 3.7% in the third quarter. Kensington Investment Counsel LLC now owns 7,559 shares of the asset manager’s stock worth $1,157,000 after purchasing an additional 271 shares during the period. Tenere Capital LLC boosted its holdings in Blackstone by 5.4% in the third quarter. Tenere Capital LLC now owns 90,120 shares of the asset manager’s stock worth $13,800,000 after purchasing an additional 4,647 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its stake in Blackstone by 3.6% in the third quarter. Orion Portfolio Solutions LLC now owns 28,456 shares of the asset manager’s stock valued at $4,357,000 after buying an additional 982 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.9 %

BX opened at $185.39 on Tuesday. The business has a 50 day moving average price of $173.07 and a 200 day moving average price of $147.64. Blackstone Inc. has a twelve month low of $112.09 and a twelve month high of $200.96. 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 firm has a market cap of $133.85 billion, a P/E ratio of 63.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.51.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.86%. Blackstone’s payout ratio is currently 118.21%.

Insider Buying and Selling at Blackstone

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

Analysts Set New Price Targets

BX has been the topic of a number of recent research reports. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. BMO Capital Markets boosted their price target on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays lifted their price target on Blackstone from $174.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $164.25.

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.