11,740 Shares in Blackstone Inc. (NYSE:BX) Purchased by Hurley Capital LLC

Key Points

• Hurley Capital LLC invested $1.64 million in Blackstone Inc., acquiring 11,740 shares, making it 1.2% of its portfolio.
• Blackstone recently declared a dividend increase to $1.03 per share, up from $0.93, with a payout ratio of 100%.
• The company reported $3.07 billion in revenue last quarter, exceeding expectations by >10%, with an EPS of $1.21 against a consensus estimate of $1.10.

Hurley Capital LLC acquired a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,740 shares of the asset manager's stock, valued at approximately $1,641,000. Blackstone makes up approximately 1.2% of Hurley Capital LLC's investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors have also modified their holdings of BX. Geode Capital Management LLC boosted its position in Blackstone by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after purchasing an additional 444,887 shares during the period. Northern Trust Corp raised its stake in Blackstone by 10.8% during the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock valued at $1,209,707,000 after purchasing an additional 681,512 shares during the period. Invesco Ltd. boosted its stake in shares of Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after buying an additional 371,677 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Blackstone by 2.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,195,551 shares of the asset manager's stock valued at $895,817,000 after purchasing an additional 144,926 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Blackstone by 19.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,109,020 shares of the asset manager's stock worth $708,477,000 after acquiring an additional 678,111 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

Blackstone stock traded up $0.06 during mid-day trading on Tuesday, hitting $177.00. 2,750,131 shares of the company traded hands, compared to its average volume of 3,887,971. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The stock has a market cap of $129.15 billion, a price-to-earnings ratio of 47.58, a price-to-earnings-growth ratio of 1.45 and a beta of 1.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.74. The stock has a fifty day moving average price of $150.38 and a 200-day moving average price of $150.62.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the firm posted $0.98 earnings per share. The business's revenue was up 32.7% compared to the same quarter last year. On average, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, August 4th will be paid a $1.03 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date is Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.33%. Blackstone's payout ratio is presently 100.00%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of Blackstone stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the acquisition, the insider owned 4,178,771 shares of the company's stock, valued at $105,388,604.62. The trade was a 39.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider owned 1,666,667 shares of the company's stock, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,849,769 shares of company stock worth $54,932,307 over the last 90 days. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BX has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday. The Goldman Sachs Group reissued a "neutral" rating on shares of Blackstone in a research report on Friday. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a research report on Friday. Finally, TD Cowen decreased their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $170.12.

Blackstone Company 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.