Mirador Capital Partners LP Acquires 2,666 Shares of Blackstone Inc. (NYSE:BX)

Mirador Capital Partners LP lifted its stake in Blackstone Inc. (NYSE:BX) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,608 shares of the asset manager’s stock after buying an additional 2,666 shares during the period. Blackstone comprises approximately 2.6% of Mirador Capital Partners LP’s holdings, making the stock its 8th largest holding. Mirador Capital Partners LP’s holdings in Blackstone were worth $14,641,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Wulff Hansen & CO. grew its stake in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares during the last quarter. Capital World Investors boosted its position in Blackstone by 7.5% in 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 buying an additional 2,546,886 shares during the last quarter. Lone Pine Capital LLC acquired a new position in shares of Blackstone during the fourth quarter valued at $290,514,000. Lazard Asset Management LLC increased its position in Blackstone by 19,048.1% in the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after purchasing an additional 1,873,573 shares during the period. Finally, Vanguard Group Inc. lifted its position 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 period. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BX has been the topic of several analyst reports. Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. The Goldman Sachs Group increased their target price on Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen upped their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Piper Sandler lifted their price target on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $131.17.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

BX traded up $0.72 on Friday, reaching $151.92. The stock had a trading volume of 2,073,752 shares, compared to its average volume of 3,449,274. The firm has a 50-day moving average of $142.63 and a 200-day moving average of $131.34. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The company has a market capitalization of $108.57 billion, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current 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 $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.16%. Blackstone’s payout ratio is 115.90%.

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.