Quantbot Technologies LP Takes $758,000 Position in Blackstone Inc. $BX

Quantbot Technologies LP acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,440 shares of the asset manager’s stock, valued at approximately $758,000.

A number of other large investors have also made changes to their positions in BX. Ares Financial Consulting LLC acquired a new stake in shares of Blackstone in the 4th quarter worth $28,000. Bell Investment Advisors Inc purchased a new stake in Blackstone in the second quarter valued at about $30,000. Addison Advisors LLC purchased a new stake in shares of Blackstone during the second quarter worth about $30,000. Strive Asset Management LLC purchased a new position in shares of Blackstone in the 3rd quarter valued at approximately $30,000. Finally, Palladiem LLC purchased a new stake in Blackstone during the 4th quarter worth approximately $31,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of BX opened at $143.25 on Thursday. The company has a market capitalization of $107.53 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.57 and a beta of 1.56. The business’s 50-day moving average is $129.88 and its two-hundred day moving average is $122.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s revenue was up 35.9% compared to the same quarter last year. Research analysts predict that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $1.29 dividend. The ex-dividend date was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is presently 115.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BX shares. Sanford C. Bernstein began coverage on shares of Blackstone in a report on Monday, June 8th. They issued an “outperform” rating for the company. Rothschild & Co Redburn reduced their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. BNP Paribas Exane dropped their price target on Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada increased their price objective on Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

Insider Activity

In related news, insider John G. Finley sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the sale, the insider owned 516,017 shares in the company, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ruth Porat bought 371 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $137.17 per share, for a total transaction of $50,890.07. Following the completion of the purchase, the director owned 42,189 shares in the company, valued at approximately $5,787,065.13. This represents a 0.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 1,611,822 shares of company stock valued at $42,189,294 and sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company 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.