Banque Transatlantique SA Has $124,000 Holdings in Blackstone Inc. $BX

Key Points

• Banque Transatlantique SA has reduced its holdings in Blackstone Inc. by 64.2%, now owning only 960 shares worth $124,000, following the sale of 1,720 shares in the first quarter.
• Other institutional investors have also increased their positions, with Illinois Municipal Retirement Fund boosting its stake by 105.4% to 13,405 shares, valued at $1.87 million.
• Blackstone recently reported earnings of $1.21 per share, surpassing estimates, alongside a quarterly dividend increase to $1.03 per share, reflecting a positive trend in financial performance.

Banque Transatlantique SA lessened its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 64.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 960 shares of the asset manager's stock after selling 1,720 shares during the quarter. Banque Transatlantique SA's holdings in Blackstone were worth $124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. 1248 Management LLC bought a new position in Blackstone during the 1st quarter worth approximately $25,000. von Borstel & Associates Inc. acquired a new stake in shares of Blackstone during the first quarter worth $28,000. Wealth Preservation Advisors LLC bought a new stake in shares of Blackstone during the 1st quarter valued at about $28,000. Putney Financial Group LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. bought a new position in Blackstone during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

Blackstone stock traded up $6.22 during mid-day trading on Wednesday, hitting $179.39. The company's stock had a trading volume of 1,714,019 shares, compared to its average volume of 4,143,809. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock's fifty day moving average price is $168.44 and its two-hundred day moving average price is $150.05. The stock has a market capitalization of $132.23 billion, a P/E ratio of 48.21, a P/E/G ratio of 1.41 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, August 4th. This is a positive change from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio is presently 110.75%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 222 shares of the company's stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $170.29 per share, for a total transaction of $37,804.38. Following the acquisition, the director directly owned 38,753 shares of the company's stock, valued at approximately $6,599,248.37. This trade represents a 0.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David Payne sold 9,400 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $169.97, for a total transaction of $1,597,718.00. Following the sale, the chief accounting officer owned 54,488 shares of the company's stock, valued at approximately $9,261,325.36. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 1,189,806 shares of company stock valued at $30,046,627 and have sold 16,850,134 shares valued at $131,641,986. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

BX has been the subject of several recent research reports. Barclays upped their price target on shares of Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. The Goldman Sachs Group restated a "neutral" rating on shares of Blackstone in a research note on Friday, July 25th. Dbs Bank upgraded Blackstone to a "moderate buy" rating in a research report on Tuesday, August 12th. Evercore ISI increased their price target on Blackstone from $165.00 to $197.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, JMP Securities increased their target price on shares of Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Blackstone currently has a consensus rating of "Moderate Buy" and an average price target of $172.38.

Blackstone 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.