Partners Group Holding AG Acquires 48,783 Shares of Blackstone Inc. (NYSE:BX)

Partners Group Holding AG increased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 16.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 341,925 shares of the asset manager's stock after purchasing an additional 48,783 shares during the quarter. Blackstone accounts for about 3.5% of Partners Group Holding AG's investment portfolio, making the stock its 8th largest holding. Partners Group Holding AG's holdings in Blackstone were worth $52,359,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the second quarter worth about $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the second quarter worth approximately $27,000. West Financial Advisors LLC bought a new position in Blackstone in the 3rd quarter valued at about $27,000. Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Blackstone during the second quarter valued at approximately $31,000. Institutional investors own 70.00% of the company's stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Price Performance

Shares of Blackstone stock traded down $1.48 during trading on Tuesday, reaching $191.64. 3,205,500 shares of the company's stock were exchanged, compared to its average volume of 3,427,807. Blackstone Inc. has a 1-year low of $105.51 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm's 50-day moving average price is $166.63 and its 200 day moving average price is $143.28. The company has a market cap of $138.36 billion, a P/E ratio of 66.36, a PEG ratio of 1.69 and a beta of 1.49.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, research analysts anticipate that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone's previous quarterly dividend of $0.82. Blackstone's dividend payout ratio (DPR) is 118.21%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BX. JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Evercore ISI upped their price target on Blackstone from $148.00 to $155.00 and gave the company an "outperform" rating in a report on Monday, October 14th. 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, October 18th. TD Cowen lifted their price objective on Blackstone from $133.00 to $149.00 and gave the company a "hold" rating in a research report on Friday, October 18th. Finally, Piper Sandler lowered Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $157.63.

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.