Chicago Capital LLC Purchases 662 Shares of Blackstone Inc. (NYSE:BX)

Chicago Capital LLC boosted its holdings in Blackstone Inc. (NYSE:BX) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,641 shares of the asset manager’s stock after acquiring an additional 662 shares during the period. Chicago Capital LLC’s holdings in Blackstone were worth $4,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. State Street Corp lifted its holdings in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares in the last quarter. Geode Capital Management LLC grew its position in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after acquiring an additional 61,739 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Blackstone by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after acquiring an additional 116,367 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $176.92 on Monday. The company has a market capitalization of $127.74 billion, a P/E ratio of 48.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The business has a 50-day simple moving average of $180.15 and a two-hundred day simple moving average of $162.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Research analysts expect that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a $1.44 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.26%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 94.77%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays decreased their price objective on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday. Finally, UBS Group raised their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.13.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

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.