Osprey Private Wealth LLC has increased its stake in Blackstone Inc. (NYSE: BX) by an impressive 29.6% during the third quarter of 2023. According to a report from Holdings Channel, the firm now owns 19,960 shares after acquiring an additional 4,560 shares in the period, bringing the total value of Osprey’s holdings to approximately $3.41 million as of its latest filing with the Securities and Exchange Commission.
This acquisition is part of a broader trend among significant institutional investors, many of whom are adjusting their positions in Blackstone. For instance, Wedmont Private Capital raised its stake by 5.0%, now holding 8,239 shares valued at about $1.36 million after adding 390 shares. Similarly, the Czech National Bank boosted its holdings by 5.0%, acquiring 8,854 shares to reach a total of 187,205 shares, valued at approximately $31.98 million.
Chesley Taft & Associates LLC also increased its investment in Blackstone, raising its holdings by 9.3%, resulting in ownership of 92,758 shares worth around $15.85 million. Other firms, including Carr Financial Group Corp and Cypress Point Wealth Management LLC, have also made new investments in Blackstone, valued at $256,000 and $220,000, respectively. Notably, 70.00% of Blackstone’s stock is now owned by hedge funds and institutional investors.
Insider Transactions Reflect Confidence
In addition to institutional investments, insider transactions at Blackstone indicate strong confidence in the firm. On November 4, 2023, Director James Breyer purchased 13,900 shares at an average price of $143.86 per share, totaling approximately $1.99 million. This purchase increased Breyer’s total ownership to 68,906 shares, valued at roughly $9.91 million.
Another significant insider transaction occurred on November 21, 2023, when major shareholder Holdings IV GP Mana Blackstone acquired 385,208 shares at an average cost of $25.96 per share, amounting to nearly $10 million. Following this transaction, the insider now holds 16,332,883 shares valued at about $424 million. In total, insiders purchased 2,950,751 shares valued at approximately $79.05 million in the last quarter, highlighting their ongoing commitment to the company’s growth.
Blackstone’s Financial Performance and Dividend Increase
Blackstone’s stock opened at $153.10 on Thursday, reflecting a robust market capitalization of $113.06 billion. The firm has demonstrated solid financial health, with a debt-to-equity ratio of 0.60, a quick ratio of 0.75, and a current ratio of 0.75. The company’s fifty-day moving average price is $149.64, while the two-hundred-day moving average stands at $158.95.
In its most recent earnings announcement on November 22, 2023, Blackstone reported earnings per share (EPS) of $0.97 for the quarter, alongside a net margin of 20.56% and a return on equity of 22.30%. The total revenue for the quarter reached $2.49 billion. Analysts predict that Blackstone will achieve an EPS of $5.87 for the current fiscal year.
Furthermore, Blackstone recently announced an increase in its quarterly dividend. Shareholders received a dividend of $1.29 on November 10, 2023, reflecting an annualized dividend of $5.16 and a dividend yield of 3.4%. This marks an increase from the previous quarterly dividend of $1.03. The ex-dividend date was November 3, 2023, and the company’s dividend payout ratio stands at 147.43%.
Blackstone Inc. is recognized as a leading alternative asset management firm, specializing in diverse sectors including real estate, private equity, hedge fund solutions, and more. With a focus on innovative investment strategies, the firm plays a critical role in shaping the landscape of asset management.
