Bruni J V & Co. Co. Acquires Shares of 204,937 Blackstone Inc. $BX

Bruni J V & Co. Co. acquired a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 204,937 shares of the asset manager's stock, valued at approximately $24,114,937. Blackstone comprises 0.0% of Bruni J V & Co. Co.'s holdings, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. BlackRock Inc. purchased a new stake in Blackstone in the 2nd quarter valued at about $6,112,162,000. Norges Bank purchased a new stake in shares of Blackstone during the 4th quarter worth approximately $1,275,747,000. Bank of New York Mellon Corp purchased a new stake in shares of Blackstone during the 2nd quarter worth approximately $514,736,000. Capital Research Global Investors increased its stake in shares of Blackstone by 99.2% during the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager's stock worth $983,690,000 after purchasing an additional 3,178,133 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Blackstone during the 2nd quarter worth approximately $270,380,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Down 0.7%

BX opened at $142.63 on Friday. The company has a 50 day moving average of $130.65 and a 200 day moving average of $122.92. The company has a market cap of $107.06 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.57 and a beta of 1.56. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period last year, the firm earned $0.98 EPS. Blackstone's revenue for the quarter was up 35.9% on a year-over-year basis. On average, sell-side analysts expect that Blackstone Inc. will post 5.99 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Blackstone's previous quarterly dividend of $1.16. Blackstone's payout ratio is 115.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $136.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price target on shares of Blackstone from $161.00 to $169.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Citizens Jmp decreased their price target on shares of Blackstone from $190.00 to $165.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. Argus raised their price objective on shares of Blackstone from $146.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Blackstone from $114.00 to $127.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Blackstone has an average rating of "Moderate Buy" and an average target price of $149.43.

Insider Transactions at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the acquisition, the insider directly owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the business's stock in a transaction on Friday, August 21st. The stock was purchased at an average cost of $26.14 per share, with a total value of $7,126,861.88. Following the completion of the acquisition, the insider owned 8,704,419 shares in the company, valued at approximately $227,533,512.66. This trade represents a 3.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by company insiders.

Blackstone Company Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.