Edmond DE Rothschild Holding S.A. Invests $832,000 in Blackstone Inc. $BX

Key Points

• Edmond DE Rothschild Holding acquired 7,070 Blackstone shares worth approximately $832,000 in the second quarter. Institutional investors collectively own about 70% of Blackstone.
• Blackstone reported stronger-than-expected quarterly results, with EPS of $1.52 versus the $1.34 consensus and revenue of $5.04 billion, up 35.9% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $147.95. Blackstone also raised its quarterly dividend to $1.29 per share, representing a 3.6% annualized yield.

Edmond DE Rothschild Holding S.A. bought 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 Securities and Exchange Commission (SEC). The firm bought 7,070 shares of the asset manager's stock, valued at approximately $832,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Blackstone during the second quarter valued at approximately $6,112,162,000. Norges Bank bought a new stake in Blackstone in the 4th quarter valued at $1,275,747,000. Bank of New York Mellon Corp acquired a new position in shares of Blackstone in the 2nd quarter valued at $514,736,000. Capital Research Global Investors boosted its position 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 valued at $983,690,000 after acquiring an additional 3,178,133 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in Blackstone in the second quarter valued at about $270,380,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised Blackstone to a "hold" rating in a report on Monday, July 20th. Barclays raised their target price on Blackstone from $119.00 to $128.00 and gave the stock an "equal weight" rating in a research report on Friday, July 24th. Oppenheimer lifted their price objective on Blackstone from $139.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Sanford C. Bernstein assumed coverage on shares of Blackstone in a report on Monday, June 8th. They issued an "outperform" rating on the stock. Finally, BNP Paribas Exane cut their price target on shares of Blackstone from $126.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Blackstone has a consensus rating of "Moderate Buy" and an average price target of $147.95.

Blackstone Price Performance

Shares of BX stock opened at $141.50 on Friday. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The stock has a market capitalization of $106.21 billion, a PE ratio of 31.66, a PEG ratio of 1.61 and a beta of 1.56. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The stock's fifty day moving average is $128.40 and its 200-day moving average is $122.42.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 earnings per share. Equities research analysts expect that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is an increase from Blackstone's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone's payout ratio is currently 115.44%.

Insiders Place Their Bets

In other news, major shareholder Private Multi-Asset Blackstone bought 573,614 shares of the stock in a transaction dated Thursday, July 23rd. The stock was bought at an average cost of $26.15 per share, with a total value of $15,000,006.10. Following the purchase, the insider owned 8,455,758 shares of the company's stock, valued at approximately $221,118,071.70. This represents a 7.28% increase in their ownership of the stock. The purchase was disclosed in a 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 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 directly owned 516,017 shares in the company, valued at $75,911,260.87. This trade represents a 8.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $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.

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