Integral Investment Advisors Inc. has significantly increased its holdings in Blackstone Inc. (NYSE: BX) by 61.8% during the second quarter of 2023. According to the firm’s latest 13F filing with the Securities and Exchange Commission (SEC), Integral now owns 2,997 shares of the asset management company after acquiring an additional 1,145 shares in the quarter. The total value of this investment is approximately $448,000.
Several other institutional investors have also adjusted their positions in Blackstone. Notably, 1248 Management LLC initiated a new position in the first quarter, investing around $25,000. Similarly, Family CFO Inc. and Wealth Preservation Advisors LLC both established new positions valued at approximately $28,000. Additionally, Anderson Financial Strategies LLC and Livelsberger Financial Advisory made new investments of $28,000 and $30,000, respectively. Institutional investors currently hold about 70% of Blackstone’s stock.
Blackstone’s Financial Metrics and Dividend Increase
As of the most recent trading session, Blackstone’s shares opened at $153.70. The company boasts a market capitalization of $113.29 billion and a price-to-earnings ratio of 43.91. Its debt-to-equity ratio stands at 0.60, with a current ratio of 0.75 and a quick ratio of 0.74. Over the past year, Blackstone has experienced significant share price fluctuations, with a low of $115.66 and a high of $200.96.
In a recent announcement, Blackstone declared a quarterly dividend of $1.29, scheduled for payment on November 10, 2023. Shareholders on record as of November 3 will receive this dividend, which represents an increase from the previous quarterly dividend of $1.03. This new dividend translates to an annualized yield of 3.4%, despite the company’s payout ratio currently being at 147.43%.
Analyst Insights and Insider Transactions
Equity research analysts have recently provided updates on Blackstone’s stock. Citigroup lowered its price target from $185.00 to $170.00, maintaining a “neutral” rating. Similarly, TD Cowen adjusted its target from $208.00 to $205.00, retaining a “buy” rating. Other firms, including BNP Paribas Exane and HSBC, also revised their target prices, reflecting a cautious outlook amidst market fluctuations.
The consensus rating for Blackstone among analysts is classified as “Moderate Buy,” with an average target price of $180.26. Notably, one analyst has issued a “Strong Buy” recommendation, while ten have rated it as a “Buy” and nine as a “Hold.”
Insider trading activity at Blackstone has seen notable transactions as well. On September 8, 2023, John G. Finley, an insider, sold 21,500 shares at an average price of $171.46, totaling approximately $3.69 million. Following this sale, he retained ownership of 453,836 shares. Similarly, Joseph Baratta, a director at the company, sold 113,000 shares on September 25, 2023, realizing about $19.85 million from the transaction.
In the past three months, insiders have purchased approximately 2,538,345 shares valued at $65.05 million, while selling 16,984,634 shares worth $155.18 million. Currently, insiders hold around 1.00% of the company’s stock.
Blackstone Inc. is recognized as a leading alternative asset management firm, focusing on diverse investment strategies including real estate, private equity, and public debt. The firm is known for its strategic investments in both established and early-stage companies, as well as its capital markets services.
For those interested in further details regarding Blackstone’s financial activities and stock performance, regular updates can be found through financial news platforms and the SEC’s official filings.
