1,554 Shares in Blackstone Inc. (NYSE:BX) Purchased by Chris Bulman Inc

Chris Bulman Inc purchased a new stake in Blackstone Inc. (NYSE:BX) in the second quarter, HoldingsChannel reports. The firm purchased 1,554 shares of the asset manager’s stock, valued at approximately $192,000.

Several other institutional investors have also made changes to their positions in the stock. Northwest Financial Advisors bought a new position in Blackstone in the fourth quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new stake in Blackstone in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the second quarter worth about $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone in the 2nd quarter valued at approximately $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the 2nd quarter worth approximately $29,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BX has been the topic of a number of research analyst reports. Redburn Atlantic assumed coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. TD Cowen upped their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays lifted their target price on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Finally, Morgan Stanley upped their price target on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $128.94.

Blackstone Stock Down 0.8 %

Shares of NYSE:BX opened at $137.12 on Friday. The firm has a market cap of $97.99 billion, a P/E ratio of 48.45, a PEG ratio of 1.22 and a beta of 1.50. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $145.16. The business’s 50 day simple moving average is $134.22 and its two-hundred day simple moving average is $127.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS. As a group, research analysts forecast that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.39%. 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.