Vontobel Holding Ltd. Has $4.24 Million Position in Blackstone Inc. (NYSE:BX)

Vontobel Holding Ltd. increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 125.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,688 shares of the asset manager’s stock after purchasing an additional 15,384 shares during the period. Vontobel Holding Ltd.’s holdings in Blackstone were worth $4,240,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BX. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone during the 2nd quarter worth about $27,000. West Financial Advisors LLC bought a new stake in Blackstone in the 3rd quarter valued at about $27,000. Finally, Bank & Trust Co bought a new position in Blackstone in the second quarter worth approximately $29,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BX. UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday. TD Cowen raised their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday. Bank of America increased their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BMO Capital Markets upped their price target on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $152.41.

Blackstone Stock Up 1.5 %

BX opened at $172.35 on Friday. 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 stock has a market cap of $123.17 billion, a price-to-earnings ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51. The company’s 50-day moving average price is $147.01 and its two-hundred day moving average price is $133.22. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, equities analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio is presently 115.90%.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction 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 completion of the transaction, the insider now directly owns 429,386 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction 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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Company 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.