Osaic Holdings Inc. Has $54.95 Million Stock Holdings in Blackstone Inc. $BX

Osaic Holdings Inc. increased its position in Blackstone Inc. (NYSE:BX) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 367,994 shares of the asset manager’s stock after purchasing an additional 8,494 shares during the quarter. Osaic Holdings Inc.’s holdings in Blackstone were worth $54,947,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Arcus Capital Partners LLC boosted its stake in Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after acquiring an additional 58 shares during the last quarter. Mattern Wealth Management LLC grew its stake in shares of Blackstone by 2.8% during the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the period. GHP Investment Advisors Inc. increased its holdings in Blackstone by 3.5% in the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 61 shares during the last quarter. Sage Rhino Capital LLC boosted its holdings in Blackstone by 0.8% during the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after buying an additional 63 shares during the last quarter. Finally, WNY Asset Management LLC increased its stake in shares of Blackstone by 1.7% in the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BX. UBS Group assumed coverage on shares of Blackstone in a research note on Thursday. They set a “neutral” rating and a $175.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Citigroup dropped their price objective on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Bank of America lowered their price target on Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Finally, Piper Sandler cut their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.84.

Insider Activity

In other Blackstone news, Director Ruth Porat acquired 324 shares of Blackstone stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the purchase, the director directly owned 39,077 shares in the company, valued at approximately $5,741,192.84. This represents a 0.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of Blackstone stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the completion of the transaction, the insider directly owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. The trade was a 2.42% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 2,950,751 shares of company stock worth $79,050,138. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $150.38 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $111.05 billion, a price-to-earnings ratio of 42.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.76. The stock’s 50-day moving average is $150.09 and its 200-day moving average is $158.90. Blackstone Inc. has a one year low of $115.66 and a one year high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. Equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were issued a dividend of $1.29 per share. The ex-dividend date was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.4%. Blackstone’s dividend payout ratio is currently 147.43%.

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.