Mirador Capital Partners LP Grows Position in Blackstone Inc. $BX

Key Points

• Mirador Capital Partners LP increased its stake in Blackstone Inc. by 4.8%, acquiring an additional 4,910 shares, bringing its total holdings to 106,747 shares valued at approximately $15.97 million.
• Several institutional investors are also boosting their positions in Blackstone, with GAMMA Investing LLC increasing its stake by over 14,608% and Vanguard Group acquiring an additional 1.1 million shares.
• Blackstone recently reported quarterly earnings of $1.21 per share, surpassing estimates, alongside a dividend increase to $1.03 per share, indicating strong financial performance and shareholder returns.

Mirador Capital Partners LP raised its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,747 shares of the asset manager's stock after acquiring an additional 4,910 shares during the quarter. Blackstone makes up 2.6% of Mirador Capital Partners LP's portfolio, making the stock its 10th biggest position. Mirador Capital Partners LP's holdings in Blackstone were worth $15,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its stake in Blackstone by 105.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager's stock valued at $1,874,000 after acquiring an additional 6,878 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Blackstone by 6.6% during the first quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager's stock worth $4,363,000 after purchasing an additional 1,943 shares during the period. Comprehensive Money Management Services LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $1,747,000. Kera Capital Partners Inc. acquired a new stake in shares of Blackstone during the second quarter worth $273,000. Finally, Sandy Cove Advisors LLC raised its holdings in shares of Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager's stock worth $1,801,000 after purchasing an additional 2,182 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 0.4%

Shares of BX traded down $0.69 during midday trading on Friday, hitting $187.99. The stock had a trading volume of 7,403,015 shares, compared to its average volume of 3,242,008. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The business has a 50-day simple moving average of $172.71 and a two-hundred day simple moving average of $151.57. The firm has a market cap of $138.57 billion, a P/E ratio of 50.53, a price-to-earnings-growth ratio of 1.52 and a beta of 1.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last announced its 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 company had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $2.77 billion. During the same period last year, the company posted $0.98 earnings per share. The business's revenue for the quarter was up 32.7% on a year-over-year basis. As a group, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a dividend of $1.03 per share. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, August 4th. Blackstone's dividend payout ratio is 110.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BX. The Goldman Sachs Group reissued a "neutral" rating on shares of Blackstone in a report on Friday, July 25th. Evercore ISI increased their target price on shares of Blackstone from $165.00 to $197.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $170.00 to $192.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a report on Tuesday, August 12th. Finally, Citigroup reaffirmed a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $172.38.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 222 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average cost of $170.29 per share, for a total transaction of $37,804.38. Following the completion of the acquisition, the director owned 38,753 shares in the company, valued at $6,599,248.37. This trade represents a 0.58% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider owned 737,248 shares of the company's stock, valued at approximately $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 90 days, insiders acquired 1,189,806 shares of company stock valued at $30,046,627 and sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is owned by company insiders.

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.