Bank OZK Acquires 2,808 Shares of Blackstone Inc. $BX

Key Points

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Bank OZK increased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 20.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,817 shares of the asset manager's stock after purchasing an additional 2,808 shares during the period. Bank OZK's holdings in Blackstone were worth $2,351,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BX. Bernard Wealth Management Corp. bought a new stake in Blackstone during the fourth quarter valued at about $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $34,000. von Borstel & Associates Inc. acquired a new position in shares of Blackstone during the first quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in shares of Blackstone during the first quarter valued at about $35,000. Finally, Garde Capital Inc. acquired a new position in shares of Blackstone during the first quarter valued at about $36,000. 70.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Baratta sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $167.36, for a total transaction of $16,736,000.00. Following the completion of the sale, the director directly owned 808,757 shares of the company's stock, valued at approximately $135,353,571.52. This represents a 11.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,189,806 shares of company stock valued at $30,046,627 and have sold 16,850,134 shares valued at $131,641,986. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BX has been the subject of a number of research analyst reports. UBS Group cut their price objective on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler upped their price objective on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $168.00 to $180.00 and gave the stock a "market perform" rating in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $170.00 to $192.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of "Hold" and an average target price of $170.12.

Blackstone Trading Down 1.5%

Shares of BX opened at $169.13 on Tuesday. The stock has a fifty day moving average price of $159.63 and a two-hundred day moving average price of $149.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a market cap of $124.66 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 1.40 and a beta of 1.71.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Blackstone's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a $1.03 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's dividend payout ratio (DPR) is 110.75%.

About Blackstone

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.

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