Blackstone Inc. (NYSE:BX) Shares Acquired by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,725 shares of the asset manager’s stock after buying an additional 142 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Blackstone were worth $337,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after acquiring an additional 1,290,324 shares in the last quarter. Capital World Investors grew its holdings in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Blackstone by 5.3% during the 4th quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock worth $841,783,000 after buying an additional 322,860 shares in the last quarter. Norges Bank acquired a new position in shares of Blackstone in the fourth quarter worth $708,859,000. Finally, Janus Henderson Group PLC raised its stake in shares of Blackstone by 0.5% in the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after acquiring an additional 21,450 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BX shares. Piper Sandler increased their price target on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. TD Cowen raised their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Morgan Stanley increased their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Finally, Barclays lifted their price target on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $128.65.

Insider Activity at Blackstone

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

Blackstone Trading Up 3.3 %

BX traded up $4.49 during trading on Friday, hitting $139.28. The company’s stock had a trading volume of 4,886,915 shares, compared to its average volume of 3,504,612. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $145.16. The firm’s 50 day moving average price is $130.98 and its 200-day moving average price is $126.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.79. The stock has a market cap of $99.54 billion, a PE ratio of 49.22, a PEG ratio of 1.17 and a beta of 1.50.

Blackstone (NYSE:BX) last released 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 analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $0.93 earnings per share. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. On average, analysts expect that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

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.