Blackstone Inc. (NYSE:BX) Shares Acquired by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 641,258 shares of the asset manager’s stock after purchasing an additional 128,190 shares during the quarter. Blackstone accounts for approximately 1.5% of Compagnie Lombard Odier SCmA’s portfolio, making the stock its 20th biggest position. Compagnie Lombard Odier SCmA’s holdings in Blackstone were worth $98,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Financial Advisors LLC acquired a new position in Blackstone in the 3rd quarter valued at about $27,000. Chilton Capital Management LLC acquired a new position in Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new position in Blackstone in the 2nd quarter valued at about $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone in the 2nd quarter valued at about $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BX. Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays boosted their target price on Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley boosted their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their target price on Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Blackstone Stock Performance

Shares of NYSE:BX traded up $4.01 during trading on Friday, reaching $153.04. The company had a trading volume of 2,205,616 shares, compared to its average volume of 3,418,553. The stock’s fifty day moving average price is $143.72 and its 200 day moving average price is $132.13. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The firm has a market capitalization of $109.37 billion, a price-to-earnings ratio of 54.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company earned $0.93 EPS. The company’s revenue was up 166.9% on a year-over-year basis. As a group, equities research analysts predict that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were given 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 2.14%. Blackstone’s payout ratio is 115.90%.

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.