Oppenheimer Asset Management Inc. Has $13.12 Million Stock Position in Blackstone Inc. $BX

Oppenheimer Asset Management Inc. grew its stake in Blackstone Inc. (NYSE:BX) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,800 shares of the asset manager’s stock after acquiring an additional 5,719 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Blackstone were worth $13,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Traub Capital Management LLC bought a new position in Blackstone in the second quarter valued at approximately $27,000. Parvin Asset Management LLC bought a new stake in Blackstone in the 2nd quarter valued at $35,000. Rexford Capital Inc. bought a new position in Blackstone during the 2nd quarter worth about $35,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Blackstone in the third quarter valued at about $45,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in Blackstone in the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were purchased at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the acquisition, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This represents a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Shares of BX stock opened at $131.27 on Tuesday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $151.61 and a 200 day simple moving average of $159.15. The company has a market cap of $96.94 billion, a P/E ratio of 33.83, a P/E/G ratio of 1.01 and a beta of 1.76.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company’s quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter last year, the business posted $1.69 earnings per share. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th will be given a $1.49 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 4.5%. Blackstone’s dividend payout ratio is presently 132.99%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Morgan Stanley upped their price objective on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. HSBC lowered their target price on shares of Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $195.00 target price on shares of Blackstone in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.77.

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.