Public Sector Pension Investment Board Has $15 Million Holdings in Blackstone Inc. (NYSE:BX)

Public Sector Pension Investment Board boosted its position in Blackstone Inc. (NYSE:BX) by 7.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,134 shares of the asset manager’s stock after buying an additional 7,927 shares during the quarter. Public Sector Pension Investment Board’s holdings in Blackstone were worth $14,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BX. Wulff Hansen & CO. lifted its holdings in shares of Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares during the period. Capital World Investors lifted its holdings in Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares during the last quarter. Lone Pine Capital LLC bought a new position in Blackstone during the 4th quarter valued at about $290,514,000. Lazard Asset Management LLC lifted its holdings in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after purchasing an additional 1,873,573 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Blackstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $157.21 on Tuesday. The company’s fifty day simple moving average is $140.08 and its 200-day simple moving average is $129.63. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $112.35 billion, a PE ratio of 55.55, a P/E/G ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. Equities research analysts expect that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.09%. Blackstone’s payout ratio is 115.90%.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company assumed coverage on shares of Blackstone in a research report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price objective for the company. Piper Sandler raised their price objective on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Barclays lifted their price target on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Finally, Bank of America lifted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $130.78.

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.