Presidio Capital Management LLC Boosts Stock Position in Blackstone Inc. (NYSE:BX)

Presidio Capital Management LLC increased its stake in Blackstone Inc. (NYSE:BX) by 19.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,304 shares of the asset manager’s stock after buying an additional 703 shares during the period. Blackstone comprises about 0.4% of Presidio Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Presidio Capital Management LLC’s holdings in Blackstone were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. TFB Advisors LLC increased its holdings in shares of Blackstone by 3.5% in the 3rd quarter. TFB Advisors LLC now owns 5,692 shares of the asset manager’s stock valued at $872,000 after acquiring an additional 193 shares during the last quarter. Tandem Investment Advisors Inc. boosted its holdings in shares of Blackstone by 12.4% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 4,520 shares of the asset manager’s stock valued at $692,000 after buying an additional 500 shares during the period. Portside Wealth Group LLC acquired a new stake in Blackstone in the third quarter worth $201,000. Montecito Bank & Trust increased its stake in shares of Blackstone by 40.5% in the third quarter. Montecito Bank & Trust now owns 5,774 shares of the asset manager’s stock valued at $884,000 after purchasing an additional 1,665 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Blackstone by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager’s stock worth $139,302,000 after buying an additional 51,897 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.0 %

Blackstone stock opened at $176.30 on Friday. The company has a 50 day moving average price of $155.70 and a 200 day moving average price of $137.33. The firm has a market capitalization of $127.29 billion, a price-to-earnings ratio of 60.58, a P/E/G ratio of 1.43 and a beta of 1.49. Blackstone Inc. has a 52 week low of $96.15 and a 52 week high of $178.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.95%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BX shares. Bank of America increased their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Citigroup raised 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Finally, Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $155.38.

Blackstone Company 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.