Capital Advisors Inc. OK Acquires 87,885 Shares of Blackstone Inc. $BX

Key Points

• Capital Advisors Inc. OK increased its Blackstone stake by 35.2% in the second quarter, purchasing 87,885 additional shares and bringing its holdings to 337,510 shares valued at approximately $39.7 million. Institutional investors collectively own 70% of Blackstone’s stock.
• Blackstone reported strong quarterly results, with earnings of $1.52 per share exceeding estimates of $1.34 and revenue rising 35.9% year over year to $5.04 billion.
• The company raised its quarterly dividend to $1.29 per share, equivalent to an annualized $5.16 and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $149.43.

Capital Advisors Inc. OK increased its stake in Blackstone Inc. (NYSE:BX - Free Report) by 35.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 337,510 shares of the asset manager's stock after purchasing an additional 87,885 shares during the period. Capital Advisors Inc. OK's holdings in Blackstone were worth $39,715,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Blackstone by 1.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,353,274 shares of the asset manager's stock worth $512,250,000 after buying an additional 52,755 shares during the last quarter. New Mexico Educational Retirement Board grew its position in Blackstone by 9.4% in the second quarter. New Mexico Educational Retirement Board now owns 37,300 shares of the asset manager's stock worth $4,389,000 after acquiring an additional 3,200 shares in the last quarter. Mufg Securities Americas Inc. raised its position in Blackstone by 8.0% during the second quarter. Mufg Securities Americas Inc. now owns 22,375 shares of the asset manager's stock valued at $2,633,000 after purchasing an additional 1,658 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in Blackstone by 1.3% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 21,856 shares of the asset manager's stock worth $2,572,000 after purchasing an additional 287 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Blackstone by 0.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,770,478 shares of the asset manager's stock valued at $208,332,000 after purchasing an additional 5,103 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Down 0.7%

Shares of Blackstone stock opened at $142.63 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company's 50 day moving average price is $130.65 and its 200-day moving average price is $122.92. The stock has a market capitalization of $107.06 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.55 and a beta of 1.56.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Equities research analysts forecast that Blackstone Inc. will post 5.99 EPS for the current year.

Blackstone Increases Dividend

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

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings Iv L.P. Blackstone acquired 272,642 shares of the company's stock in a transaction on Friday, August 21st. The stock was acquired at an average price of $26.14 per share, for a total transaction of $7,126,861.88. Following the acquisition, the insider owned 8,704,419 shares in the company, valued at $227,533,512.66. This represents a 3.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total value of $6,619,950.00. Following the transaction, the insider owned 516,017 shares of the company's stock, valued at approximately $75,911,260.87. This represents a 8.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have purchased 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BX shares. Weiss Ratings upgraded Blackstone from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 24th. Barclays lifted their price target on shares of Blackstone from $119.00 to $128.00 and gave the stock an "equal weight" rating in a research note on Friday, July 24th. BNP Paribas Exane reduced their target price on shares of Blackstone from $126.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Rothschild & Co Redburn decreased their target price on shares of Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 9th. Finally, Citizens Jmp cut 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 report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.43.

Blackstone 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.

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