Kercheville Advisors LLC Has $7.84 Million Stock Holdings in Blackstone Inc. $BX

Key Points

• Kercheville Advisors LLC increased its holdings in Blackstone Inc. by 21.2%, reaching a total of $7.84 million in shares, making it the firm's 13th largest investment.
• Analysts have raised price targets for Blackstone, with Evercore ISI setting a target of $197.00, reflecting a positive outlook and a consensus rating of "Moderate Buy."
• Blackstone recently announced a quarterly dividend of $1.03, up from the previous $0.93, indicating a robust dividend strategy with an annualized yield of 2.4%.

Kercheville Advisors LLC increased its position in Blackstone Inc. (NYSE:BX - Free Report) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,380 shares of the asset manager's stock after buying an additional 9,150 shares during the period. Blackstone accounts for approximately 2.7% of Kercheville Advisors LLC's investment portfolio, making the stock its 13th biggest holding. Kercheville Advisors LLC's holdings in Blackstone were worth $7,835,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Blackstone in the 1st quarter valued at about $25,000. Family CFO Inc bought a new position in Blackstone in the 2nd quarter valued at about $28,000. Wealth Preservation Advisors LLC bought a new position in Blackstone in the 1st quarter valued at about $28,000. Anderson Financial Strategies LLC bought a new position in Blackstone in the 1st quarter valued at about $28,000. Finally, Livelsberger Financial Advisory bought a new position in Blackstone in the 2nd quarter valued at about $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent research reports. Evercore ISI raised their price target on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Wells Fargo & Company raised their price target on shares of Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a research report on Tuesday, August 12th. Piper Sandler lifted their target price on shares of Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, JMP Securities lifted their target price on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.53.

Blackstone Trading Up 1.1%

Shares of BX stock opened at $168.40 on Friday. The company has a 50 day moving average of $173.81 and a 200-day moving average of $153.80. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The firm has a market cap of $124.12 billion, a P/E ratio of 45.27, a PEG ratio of 1.37 and a beta of 1.77.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (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 company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the business posted $0.98 EPS. Blackstone's quarterly revenue was up 32.7% compared to the same quarter last year. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a $1.03 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio (DPR) is presently 110.75%.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider owned 737,248 shares of the company's stock, valued at $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by corporate insiders.

About Blackstone

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.

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