Osprey Private Wealth LLC Increases Stock Position in Blackstone Inc. (NYSE:BX)

Osprey Private Wealth LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 2.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,175 shares of the asset manager’s stock after acquiring an additional 340 shares during the quarter. Blackstone makes up 1.6% of Osprey Private Wealth LLC’s investment portfolio, making the stock its 27th biggest position. Osprey Private Wealth LLC’s holdings in Blackstone were worth $2,272,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BX. AQR Capital Management LLC lifted its position in shares of Blackstone by 123.6% during the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after purchasing an additional 10,952 shares in the last quarter. Czech National Bank raised its holdings in Blackstone by 7.7% in the third quarter. Czech National Bank now owns 146,687 shares of the asset manager’s stock valued at $22,462,000 after acquiring an additional 10,504 shares in the last quarter. GAMMA Investing LLC raised its holdings in Blackstone by 53.0% in the third quarter. GAMMA Investing LLC now owns 8,137 shares of the asset manager’s stock valued at $1,246,000 after acquiring an additional 2,819 shares in the last quarter. Diversified Trust Co raised its holdings in Blackstone by 1.7% in the third quarter. Diversified Trust Co now owns 8,804 shares of the asset manager’s stock valued at $1,348,000 after acquiring an additional 143 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in Blackstone by 1.1% in the third quarter. Fulton Bank N.A. now owns 11,099 shares of the asset manager’s stock valued at $1,700,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on BX shares. UBS Group raised their price objective on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup raised their price objective on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $172.38.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 1.5 %

Shares of BX stock opened at $170.86 on Wednesday. The company has a market capitalization of $123.36 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 1.18 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $179.76 and a 200 day moving average price of $162.89. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is presently 94.77%.

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.