B. Metzler seel. Sohn & Co. AG Makes New $3.12 Million Investment in Blackstone Inc. $BX

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 26,524 Blackstone shares worth approximately $3.12 million in the second quarter, while institutional investors collectively own about 70% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and 11 Hold ratings producing a “Moderate Buy” consensus and an average price target of $147.95.
• Blackstone reported quarterly revenue growth of 35.9% and earnings of $1.52 per share, beating estimates, and raised its quarterly dividend to $1.29 per share, implying a 3.6% annualized yield.

B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 26,524 shares of the asset manager's stock, valued at approximately $3,121,000.

Other hedge funds also recently bought and sold shares of the company. Silvant Capital Management LLC purchased a new stake in Blackstone during the second quarter valued at approximately $37,000. LaSalle St. Investment Advisors LLC purchased a new stake in Blackstone during the 2nd quarter valued at $270,000. Portfolio Design Labs LLC purchased a new position in Blackstone during the second quarter worth $1,086,000. Reliant Investment Partners LLC bought a new position in Blackstone during the second quarter valued at $210,000. Finally, Advisors Capital Management LLC bought a new stake in shares of Blackstone in the 2nd quarter worth about $82,910,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BX shares. Piper Sandler increased their price objective on shares of Blackstone from $122.00 to $130.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. BNP Paribas Exane cut their target price on Blackstone from $126.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. dropped their price objective on Blackstone from $136.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, July 16th. Oppenheimer increased their target price on Blackstone from $139.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a research note on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $147.95.

Insider Activity

In other news, CAO David Payne sold 9,500 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total value of $1,379,685.00. Following the completion of the sale, the chief accounting officer owned 64,448 shares of the company's stock, valued at $9,359,783.04. This trade represents a 12.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Porat bought 371 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $137.17 per share, for a total transaction of $50,890.07. Following the completion of the purchase, the director owned 42,189 shares in the company, valued at $5,787,065.13. The trade was a 0.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Up 1.6%

BX opened at $143.56 on Friday. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a market capitalization of $107.76 billion, a P/E ratio of 32.12, a PEG ratio of 1.59 and a beta of 1.56. The stock's fifty day moving average is $128.82 and its two-hundred day moving average is $122.57. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.

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

Blackstone Increases Dividend

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

About Blackstone

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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