EP Wealth Advisors LLC bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,578 shares of the asset manager's stock, valued at approximately $4,069,000.
Several other institutional investors and hedge funds have also modified their holdings of BX. Ares Financial Consulting LLC bought a new position in shares of Blackstone in the fourth quarter worth about $28,000. Bell Investment Advisors Inc acquired a new stake in Blackstone in the 2nd quarter valued at approximately $30,000. Addison Advisors LLC bought a new position in Blackstone in the 2nd quarter worth approximately $30,000. Strive Asset Management LLC bought a new stake in shares of Blackstone in the third quarter valued at approximately $30,000. Finally, Palladiem LLC acquired a new stake in shares of Blackstone in the fourth quarter worth $31,000. Institutional investors and hedge funds own 70.00% of the company's stock.
Insiders Place Their Bets
In other news, CAO David Payne sold 9,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the transaction, the chief accounting officer owned 64,448 shares in the company, valued at approximately $9,359,783.04. This trade represents a 12.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Porat bought 371 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $137.17 per share, for a total transaction of $50,890.07. Following the completion of the acquisition, the director directly owned 42,189 shares of the company's stock, valued at approximately $5,787,065.13. This trade represents a 0.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. Insiders own 1.00% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on BX. Piper Sandler upped their price objective on shares of Blackstone from $122.00 to $130.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Dbs Bank upgraded Blackstone to a "moderate buy" rating in a research report on Wednesday, May 27th. Rothschild & Co Redburn lowered their price objective on Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 9th. BNP Paribas Exane reduced their target price on Blackstone from $126.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised shares of Blackstone from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.95.
Read Our Latest Research Report on BX
Blackstone Stock Performance
Shares of NYSE:BX opened at $143.56 on Friday. The business has a fifty day moving average of $128.82 and a 200-day moving average of $122.57. The firm has a market cap of $107.76 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 1.59 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. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.98 earnings per share. On average, equities research analysts predict that Blackstone Inc. will post 5.99 EPS for the current fiscal year.
Blackstone Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. This is a boost from Blackstone's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone's dividend payout ratio (DPR) is presently 115.44%.
Blackstone Profile
(
Free Report)
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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