ORG Partners LLC Raises Stake in Blackstone Inc. (NYSE:BX)

ORG Partners LLC increased its position in Blackstone Inc. (NYSE:BX) by 10,827.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,202 shares of the asset manager’s stock after buying an additional 1,191 shares during the period. ORG Partners LLC’s holdings in Blackstone were worth $147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BX. IVC Wealth Advisors LLC increased its holdings in Blackstone by 3.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 3,550 shares of the asset manager’s stock valued at $439,000 after acquiring an additional 113 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after buying an additional 7,692 shares during the last quarter. Maia Wealth LLC purchased a new stake in shares of Blackstone during the 2nd quarter worth approximately $228,000. Wedmont Private Capital grew its holdings in shares of Blackstone by 6.4% in the second quarter. Wedmont Private Capital now owns 5,947 shares of the asset manager’s stock valued at $769,000 after purchasing an additional 356 shares in the last quarter. Finally, Baxter Bros Inc. raised its stake in Blackstone by 1.1% during the second quarter. Baxter Bros Inc. now owns 8,959 shares of the asset manager’s stock valued at $1,109,000 after purchasing an additional 98 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Up 0.3 %

NYSE:BX traded up $0.47 during mid-day trading on Thursday, reaching $136.63. The company’s stock had a trading volume of 769,763 shares, compared to its average volume of 3,517,209. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $97.64 billion, a PE ratio of 48.13, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The stock has a fifty day moving average of $128.89 and a 200-day moving average of $126.30. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $145.16.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is 115.90%.

Wall Street Analyst Weigh In

Several research analysts recently commented on BX shares. Piper Sandler lifted their price target on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Morgan Stanley boosted their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Argus lifted their price objective on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TD Cowen raised their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $127.56.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone 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.