Kirtland Hills Capital Management LLC Has $1.37 Million Stock Position in Blackstone Inc. (NYSE:BX)

Kirtland Hills Capital Management LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,935 shares of the asset manager’s stock after acquiring an additional 828 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Blackstone were worth $1,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Intech Investment Management LLC boosted its holdings in shares of Blackstone by 25.4% during the first quarter. Intech Investment Management LLC now owns 3,885 shares of the asset manager’s stock worth $510,000 after purchasing an additional 786 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Blackstone by 232.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,158 shares of the asset manager’s stock valued at $151,000 after buying an additional 810 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Blackstone by 23.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 41,149 shares of the asset manager’s stock worth $5,406,000 after acquiring an additional 7,890 shares during the last quarter. Natixis grew its stake in Blackstone by 280.6% in the first quarter. Natixis now owns 32,857 shares of the asset manager’s stock valued at $4,316,000 after purchasing an additional 24,224 shares in the last quarter. Finally, Delap Wealth Advisory LLC purchased a new stake in shares of Blackstone during the 1st quarter worth about $210,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Citigroup lifted their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. UBS Group upped their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Evercore ISI upped their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays upped their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $157.63.

Insider Transactions at Blackstone

In other Blackstone news, 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 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. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value 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. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

NYSE:BX opened at $184.87 on Wednesday. The firm has a 50 day moving average of $163.11 and a 200-day moving average of $141.27. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 1 year low of $104.39 and a 1 year high of $186.32. The stock has a market capitalization of $133.48 billion, a P/E ratio of 63.53, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.86%. 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. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

About Blackstone

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.