Blackstone Inc. (NYSE:BX) Shares Purchased by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp increased its position in Blackstone Inc. by 16.3% in the first quarter, holding 35,497 shares valued at approximately $4.96 million.
• Blackstone recently declared a quarterly dividend of $1.03 per share, up from the previous dividend of $0.93, representing an annualized payout of $4.12.
• Analysts have mixed ratings on Blackstone's stock, with target prices ranging from $150 to $197 as ten analysts suggest a hold rating while nine recommend buying.

UNIVEST FINANCIAL Corp lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,497 shares of the asset manager's stock after purchasing an additional 4,962 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Blackstone were worth $4,962,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in Blackstone in the 1st quarter valued at about $28,000. Bernard Wealth Management Corp. acquired a new stake in Blackstone during the fourth quarter worth about $34,000. Putney Financial Group LLC acquired a new stake in Blackstone during the fourth quarter worth about $34,000. Garde Capital Inc. acquired a new stake in Blackstone during the first quarter worth about $36,000. Finally, Wayfinding Financial LLC acquired a new stake in Blackstone during the first quarter worth about $36,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings I. L.P. Blackstone purchased 1,189,532 shares of the business's stock in a transaction on Friday, July 18th. The stock was bought at an average cost of $25.22 per share, for a total transaction of $29,999,997.04. Following the acquisition, the insider owned 4,178,771 shares of the company's stock, valued at approximately $105,388,604.62. The trade was a 39.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider owned 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Shares of Blackstone stock traded down $2.71 during mid-day trading on Tuesday, reaching $167.79. 2,874,948 shares of the stock traded hands, compared to its average volume of 4,277,008. The business has a 50-day moving average of $153.23 and a 200 day moving average of $150.43. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a market capitalization of $122.43 billion, a PE ratio of 45.12, a PEG ratio of 1.39 and a beta of 1.71. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion for 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%. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. On average, analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, August 4th will be issued a dividend of $1.03 per share. This is a boost from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 4th. Blackstone's dividend payout ratio is 100.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI lifted their price target on Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. JMP Securities boosted their price target on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of Blackstone from $168.00 to $180.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Finally, Barclays lifted their target price on Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $170.12.

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.