Osaic Holdings Inc. Has $54.95 Million Stake in Blackstone Inc. $BX

Osaic Holdings Inc. increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,994 shares of the asset manager’s stock after acquiring an additional 8,494 shares during the quarter. Osaic Holdings Inc.’s holdings in Blackstone were worth $54,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Blackstone in the first quarter valued at about $25,000. Traub Capital Management LLC bought a new position in Blackstone in the 2nd quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Blackstone during the first quarter worth approximately $28,000. Anderson Financial Strategies LLC bought a new position in shares of Blackstone during the first quarter worth approximately $28,000. Finally, Family CFO Inc acquired a new stake in Blackstone during the second quarter worth approximately $28,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the acquisition, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Breyer acquired 13,900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 2,950,751 shares of company stock worth $79,050,138. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $150.38 on Tuesday. The company has a market capitalization of $111.05 billion, a PE ratio of 42.97, a P/E/G ratio of 1.20 and a beta of 1.76. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50 day simple moving average of $150.09 and a two-hundred day simple moving average of $158.90.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were issued a $1.29 dividend. The ex-dividend date was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.4%. Blackstone’s dividend payout ratio is presently 147.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BX shares. UBS Group started coverage on Blackstone in a research report on Thursday. They set a “neutral” rating and a $175.00 target price for the company. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. The Goldman Sachs Group lifted their price target on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Jefferies Financial Group lowered their price objective on Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. Finally, Citigroup reduced their target price 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. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.84.

About Blackstone

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.