Lynx Investment Advisory Invests $74,000 in Blackstone Inc. (NYSE:BX)

Lynx Investment Advisory bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 601 shares of the asset manager’s stock, valued at approximately $74,000.

Several other large investors have also made changes to their positions in BX. Congress Wealth Management LLC DE raised its stake in Blackstone by 36.6% in the 4th quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock valued at $4,741,000 after purchasing an additional 9,699 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Blackstone by 8.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock valued at $48,158,000 after buying an additional 28,856 shares in the last quarter. Stonegate Investment Group LLC grew its holdings in Blackstone by 0.8% in the 1st quarter. Stonegate Investment Group LLC now owns 20,165 shares of the asset manager’s stock valued at $2,649,000 after buying an additional 169 shares in the last quarter. TD Asset Management Inc grew its holdings in Blackstone by 8.9% in the 4th quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock valued at $33,267,000 after buying an additional 20,830 shares in the last quarter. Finally, Norden Group LLC grew its holdings in Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Down 0.7 %

BX stock traded down $0.95 during mid-day trading on Wednesday, reaching $129.36. The company had a trading volume of 1,220,620 shares, compared to its average volume of 3,556,298. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $145.16. The company has a market capitalization of $92.45 billion, a price-to-earnings ratio of 45.71, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The firm has a fifty day simple moving average of $127.45 and a 200 day simple moving average of $125.92.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business posted $0.93 EPS. Blackstone’s revenue was up 166.9% on a year-over-year basis. Analysts forecast that Blackstone Inc. will post 4.58 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Joseph Baratta 4,987 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen upped their target price on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Bank of America increased their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. UBS Group increased their price target on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Finally, Morgan Stanley increased their price target on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $127.56.

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.