Compagnie Lombard Odier SCmA Has $74.35 Million Position in Blackstone Inc. $BX

Compagnie Lombard Odier SCmA lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 7.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 435,153 shares of the asset manager’s stock after selling 34,518 shares during the quarter. Blackstone comprises about 0.8% of Compagnie Lombard Odier SCmA’s portfolio, making the stock its 26th largest holding. Compagnie Lombard Odier SCmA owned approximately 0.06% of Blackstone worth $74,346,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. REAP Financial Group LLC bought a new stake in Blackstone in the 3rd quarter valued at $26,000. Traub Capital Management LLC bought a new stake in shares of Blackstone in the second quarter valued at about $27,000. Parvin Asset Management LLC bought a new position in Blackstone during the second quarter worth about $35,000. Rexford Capital Inc. bought a new stake in Blackstone in the 2nd quarter valued at about $35,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Blackstone during the third quarter worth approximately $45,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BX. TD Cowen reaffirmed a “buy” rating and issued a $183.00 price objective on shares of Blackstone in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. HSBC reduced their price objective on shares of Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Bank of America cut their price target on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Finally, BNP Paribas Exane decreased their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.77.

Insider Activity

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares in the company, valued at $21,610. The trade was a 99.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 384,468 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were acquired at an average price of $26.01 per share, with a total value of $10,000,012.68. Following the purchase, the insider directly owned 16,525,117 shares in the company, valued at $429,818,293.17. This represents a 2.38% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.2%

Shares of NYSE:BX opened at $131.27 on Tuesday. The firm has a market cap of $96.94 billion, a P/E ratio of 33.83, a P/E/G ratio of 1.01 and a beta of 1.76. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $190.09. The business has a fifty day simple moving average of $151.61 and a 200 day simple moving average of $159.15. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the business earned $1.69 EPS. The company’s revenue was up 41.4% compared to the same quarter last year. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th will be issued a dividend of $1.49 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, February 9th. Blackstone’s dividend payout ratio (DPR) is currently 132.99%.

About Blackstone

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.