10,151 Shares in Blackstone Inc. $BX Acquired by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,151 shares of the asset manager’s stock, valued at approximately $1,195,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its position in Blackstone by 9.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock worth $15,561,000 after acquiring an additional 8,321 shares during the last quarter. Matrix Private Capital Group LLC acquired a new stake in shares of Blackstone in the first quarter valued at about $1,340,000. Vanguard Group Inc. lifted its position in shares of Blackstone by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after purchasing an additional 840,258 shares during the last quarter. Marble Wealth LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $7,303,000. Finally, Bank of Nova Scotia grew its holdings in Blackstone by 92.2% in the 1st quarter. Bank of Nova Scotia now owns 807,184 shares of the asset manager’s stock valued at $92,817,000 after buying an additional 387,109 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider owned 19,374 shares in the company, valued at approximately $73,233.72. This represents a 99.74% 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, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the acquisition, the insider directly owned 7,882,145 shares of the company’s stock, valued at $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by insiders.

Blackstone Stock Performance

Blackstone stock opened at $143.56 on Friday. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a fifty day moving average price of $128.82 and a two-hundred day moving average price of $122.57. The firm has a market capitalization of $107.76 billion, a P/E ratio of 32.12, a P/E/G ratio of 1.59 and a beta of 1.56.

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

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Rothschild & Co Redburn reduced their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Royal Bank Of Canada upped their target price on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Citizens Jmp decreased their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised shares of Blackstone to a “hold” rating in a research report on Monday, July 20th. Finally, HSBC reissued a “hold” rating and set a $135.00 target price on shares of Blackstone in a research report on Monday, July 20th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

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.