23,772 Shares in Blackstone Inc. $BX Purchased by Glenview Trust Co

Glenview Trust Co bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,772 shares of the asset manager's stock, valued at approximately $2,797,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Blackstone during the second quarter valued at about $6,112,162,000. Morgan Stanley increased its holdings in shares of Blackstone by 2.0% in the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager's stock valued at $5,065,374,000 after acquiring an additional 636,613 shares during the last quarter. State Street Corp lifted its position in Blackstone by 0.6% in the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager's stock valued at $4,861,885,000 after acquiring an additional 179,213 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Blackstone during the second quarter worth approximately $1,364,373,000. Finally, Norges Bank acquired a new stake in shares of Blackstone during the fourth quarter worth about $1,275,747,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BX shares. Keefe, Bruyette & Woods raised shares of Blackstone to a "hold" rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft started coverage on Blackstone in a research report on Monday, June 8th. They set a "buy" rating for the company. BNP Paribas Exane reduced their price target on Blackstone from $126.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Zacks Research raised shares of Blackstone from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Citizens Jmp dropped their price objective on shares of Blackstone from $190.00 to $165.00 and set a "market outperform" rating for the company in a research report on Thursday, July 9th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $149.43.

Blackstone Stock Down 0.7%

Shares of NYSE:BX opened at $142.63 on Friday. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The company's fifty day moving average is $130.65 and its two-hundred day moving average is $122.92. The stock has a market capitalization of $107.06 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 1.57 and a beta of 1.56.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 5.99 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $1.29 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Blackstone's previous quarterly dividend of $1.16. Blackstone's dividend payout ratio (DPR) is presently 115.44%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings Iv L.P. Blackstone bought 272,642 shares of Blackstone stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of $26.14 per share, for a total transaction of $7,126,861.88. Following the completion of the acquisition, the insider owned 8,704,419 shares of the company's stock, valued at approximately $227,533,512.66. This represents a 3.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vikrant Sawhney sold 30,000 shares of Blackstone stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total value of $4,066,500.00. Following the completion of the transaction, the insider owned 869,669 shares in the company, valued at $117,883,632.95. The trade was a 3.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 1,611,822 shares of company stock valued at $42,189,294 and sold 7,562,000 shares valued at $40,331,085. Company insiders own 1.00% of the company's stock.

Blackstone Company Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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