Blackstone Inc. $BX Position Boosted by ST Germain D J Co. Inc.

Key Points

• ST Germain D J Co. Inc. increased its stake in Blackstone Inc. by 3.8% in the second quarter, now owning 92,040 shares valued at approximately $13.77 million.
• Blackstone recently reported earnings of $1.21 per share for the last quarter, surpassing analyst expectations of $1.10, with revenue increasing by 32.7% year-over-year.
• The company has declared a quarterly dividend of $1.03 per share, up from the previous dividend of $0.93, representing an annualized yield of 2.3%.

ST Germain D J Co. Inc. raised its stake in Blackstone Inc. (NYSE:BX - Free Report) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,040 shares of the asset manager's stock after buying an additional 3,388 shares during the period. ST Germain D J Co. Inc.'s holdings in Blackstone were worth $13,767,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager's stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares during the period. GAMMA Investing LLC boosted its holdings in Blackstone by 14,608.6% during the first quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock valued at $184,873,000 after acquiring an additional 1,313,606 shares during the period. Vanguard Group Inc. raised its stake in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager's stock valued at $9,504,702,000 after purchasing an additional 1,102,949 shares during the last quarter. Nuveen LLC acquired a new stake in Blackstone during the first quarter worth about $151,524,000. Finally, Amundi grew its holdings in shares of Blackstone by 69.3% during the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager's stock worth $323,000,000 after purchasing an additional 990,947 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Down 1.2%

NYSE BX opened at $175.86 on Friday. The company has a market cap of $129.63 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.45 and a beta of 1.77. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $173.96 and a 200-day moving average of $152.55.

Blackstone (NYSE:BX - Get Free Report) last released its 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 firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company's revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. On average, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.3%. Blackstone's payout ratio is currently 110.75%.

Insiders Place Their Bets

In other news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 100,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $167.36, for a total value of $16,736,000.00. Following the sale, the director owned 808,757 shares of the company's stock, valued at approximately $135,353,571.52. This represents a 11.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 3,727,877 shares of company stock valued at $95,046,625 and sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BX shares. Barclays lifted their target price on Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Piper Sandler raised their target price 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. JMP Securities increased their price objective on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods increased their price objective on Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $172.38.

Blackstone Company 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.

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