Blackstone Inc. $BX Stock Position Lifted by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Blackstone Inc. by 14.5% during the first quarter, owning 14,708 shares valued at about $2.06 million.
• Blackstone has recently announced a quarterly dividend of $1.03, marking an increase from the previous dividend of $0.93, resulting in a 2.4% yield.
• Despite recent insider selling, a majority of Blackstone's stock, 70%, is held by institutional investors, indicating strong institutional support.

Edmond DE Rothschild Holding S.A. lifted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,708 shares of the asset manager's stock after purchasing an additional 1,863 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Blackstone were worth $2,056,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Blackstone in the first quarter worth $25,000. von Borstel & Associates Inc. bought a new position in shares of Blackstone in the first quarter worth $28,000. Wealth Preservation Advisors LLC bought a new position in Blackstone during the first quarter valued at about $28,000. Putney Financial Group LLC bought a new position in Blackstone during the fourth quarter valued at about $34,000. Finally, Bernard Wealth Management Corp. bought a new position in Blackstone during the fourth quarter valued at about $34,000. Institutional investors own 70.00% of the company's stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 222 shares of Blackstone stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $170.29 per share, with a total value of $37,804.38. Following the purchase, the director owned 38,753 shares in the company, valued at approximately $6,599,248.37. The trade was a 0.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 100,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,189,806 shares of company stock worth $30,046,627 and sold 16,850,134 shares worth $131,641,986. Insiders own 1.00% of the company's stock.

Blackstone Trading Up 1.5%

Shares of NYSE BX opened at $169.85 on Friday. The business has a fifty day simple moving average of $167.19 and a 200-day simple moving average of $149.97. The company has a market cap of $125.19 billion, a price-to-earnings ratio of 45.66, a P/E/G ratio of 1.36 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 Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business's revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

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

Analyst Ratings Changes

BX has been the subject of several research reports. Citigroup reaffirmed a "market perform" rating on shares of Blackstone in a research note on Saturday, July 19th. Dbs Bank raised Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Barclays raised 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. JMP Securities upped their target price on Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a report on Friday, July 25th. Finally, Piper Sandler upped their target price on Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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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