KCM Investment Advisors LLC Has $29.27 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

KCM Investment Advisors LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 191,117 shares of the asset manager’s stock after acquiring an additional 3,965 shares during the quarter. KCM Investment Advisors LLC’s holdings in Blackstone were worth $29,266,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Vanguard Group Inc. boosted its stake in shares of Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares during the last quarter. Capital World Investors boosted its stake in shares of Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares in the last quarter. Legal & General Group Plc boosted its stake in Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after acquiring an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after acquiring an additional 21,450 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Down 0.5 %

Shares of BX stock traded down $0.90 during mid-day trading on Friday, reaching $180.31. 386,782 shares of the company’s stock traded hands, compared to its average volume of 3,405,961. Blackstone Inc. has a 12 month low of $102.79 and a 12 month high of $184.34. The company has a market cap of $130.18 billion, a P/E ratio of 62.33, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $160.51 and its 200-day moving average price is $139.60.

Blackstone (NYSE:BX) last announced its quarterly earnings results 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 company had revenue of $2.43 billion for 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%. On average, equities analysts expect that Blackstone Inc. will post 4.39 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 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.91%. Blackstone’s payout ratio is 118.21%.

Analysts Set New Price Targets

BX has been the topic of several research analyst reports. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $157.63.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’s 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 completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.