82,413 Shares in Blackstone Inc. $BX Purchased by B & T Capital Management DBA Alpha Capital Management

Key Points

• B & T Capital Management purchased 82,413 Blackstone shares worth approximately $9.7 million, making BX its 19th-largest holding; institutional investors collectively own 70% of the company.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $147.95. Thirteen analysts rate the stock a Buy, while eleven recommend Hold.
• Blackstone reported quarterly EPS of $1.52, exceeding estimates of $1.34, while revenue rose 35.9% year over year to $5.04 billion. The company also increased its quarterly dividend to $1.29, equivalent to a 3.7% annualized yield.

B & T Capital Management DBA Alpha Capital Management purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 82,413 shares of the asset manager's stock, valued at approximately $9,698,000. Blackstone accounts for approximately 1.3% of B & T Capital Management DBA Alpha Capital Management's investment portfolio, making the stock its 19th largest holding.

A number of other large investors also recently bought and sold shares of the business. Ares Financial Consulting LLC bought a new stake in Blackstone during the 4th quarter valued at $28,000. Bell Investment Advisors Inc bought a new position in shares of Blackstone in the 2nd quarter worth $30,000. Strive Asset Management LLC bought a new stake in Blackstone during the third quarter valued at about $30,000. Palladiem LLC purchased a new position in Blackstone in the fourth quarter valued at about $31,000. Finally, West Branch Capital LLC raised its holdings in Blackstone by 26,600.0% in the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager's stock worth $31,000 after purchasing an additional 266 shares in the last quarter. Institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BX shares. HSBC reaffirmed a "hold" rating and issued a $135.00 price objective on shares of Blackstone in a research report on Monday, July 20th. Zacks Research raised Blackstone from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. The Goldman Sachs Group raised their price objective on Blackstone from $114.00 to $127.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Sanford C. Bernstein assumed coverage on Blackstone in a research report on Monday, June 8th. They set an "outperform" rating on the stock. Finally, Barclays raised their price target on Blackstone from $119.00 to $128.00 and gave the stock an "equal weight" rating in a report on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $147.95.

Blackstone Stock Down 2.1%

Shares of BX stock opened at $140.87 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The stock has a 50 day moving average of $127.05 and a 200 day moving average of $122.45. The stock has a market cap of $105.74 billion, a P/E ratio of 31.51, a P/E/G ratio of 1.60 and a beta of 1.56.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $3.42 billion. During the same quarter last year, the company earned $0.98 EPS. The business's revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Blackstone's previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. Blackstone's payout ratio is currently 115.44%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 573,614 shares of the stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $26.15 per share, for a total transaction of $15,000,006.10. Following the completion of the transaction, the insider owned 8,455,758 shares of the company's stock, valued at $221,118,071.70. This trade represents a 7.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ruth Porat acquired 371 shares of the business's stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $137.17 per share, with a total value of $50,890.07. Following the completion of the transaction, the director directly owned 42,189 shares of the company's stock, valued at approximately $5,787,065.13. This represents a 0.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. Insiders own 1.00% of the company's stock.

Blackstone 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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