OneDigital Investment Advisors LLC Acquires New Position in Blackstone Inc. $BX

by · The Markets Daily

OneDigital Investment Advisors LLC bought a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,256 shares of the asset manager’s stock, valued at approximately $1,795,000.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Blackstone in the fourth quarter valued at about $1,275,747,000. Bank of New York Mellon Corp bought a new position in shares of Blackstone in the second quarter worth about $514,736,000. Capital Research Global Investors boosted its stake in shares of Blackstone by 99.2% in the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after purchasing an additional 3,178,133 shares in the last quarter. Renaissance Technologies LLC bought a new position in Blackstone in the 1st quarter valued at approximately $164,597,000. Finally, Amundi increased its holdings in shares of Blackstone by 85.6% during the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock worth $417,620,000 after buying an additional 1,249,269 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the transaction, the insider directly owned 516,017 shares in the company, valued at approximately $75,911,260.87. This represents a 8.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the purchase, the insider directly owned 7,882,145 shares in the company, valued at $206,039,270.30. This represents a 10.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

NYSE:BX opened at $143.94 on Monday. The company has a market capitalization of $108.04 billion, a PE ratio of 32.20, a P/E/G ratio of 1.60 and a beta of 1.55. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50 day simple moving average of $126.51 and a two-hundred day simple moving average of $122.51.

Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 35.9% on a year-over-year basis. Research analysts anticipate that Blackstone Inc. will post 6 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group upped their target price on Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Oppenheimer boosted their price target on Blackstone from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Evercore reiterated an “outperform” rating and issued a $150.00 price objective on shares of Blackstone in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Finally, Citizens Jmp reduced their price objective on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.95.

Read Our Latest Report on Blackstone

About Blackstone

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

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