Moore Capital Management LP purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,839 shares of the asset manager's stock, valued at approximately $3,629,000.
Several other institutional investors have also recently made changes to their positions in BX. Benjamin Edwards Inc. grew its holdings in Blackstone by 12.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 28,281 shares of the asset manager's stock valued at $3,328,000 after purchasing an additional 3,197 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Blackstone by 5.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 139,717 shares of the asset manager's stock valued at $16,440,000 after buying an additional 7,540 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Blackstone by 4.6% in the second quarter. Wedbush Securities Inc. now owns 25,952 shares of the asset manager's stock worth $3,054,000 after buying an additional 1,147 shares during the period. Sheets Smith Wealth Management boosted its holdings in Blackstone by 55.5% during the 2nd quarter. Sheets Smith Wealth Management now owns 16,149 shares of the asset manager's stock valued at $1,900,000 after acquiring an additional 5,761 shares during the period. Finally, Greenleaf Trust increased its stake in Blackstone by 18.2% in the second quarter. Greenleaf Trust now owns 18,604 shares of the asset manager's stock worth $2,189,000 after purchasing an additional 2,866 shares during the period. Institutional investors own 70.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on BX. BNP Paribas Exane cut their price target on shares of Blackstone from $126.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. HSBC restated a "hold" rating and issued a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. Barclays lifted their price target on shares of Blackstone from $119.00 to $128.00 and gave the company an "equal weight" rating in a research note on Friday, July 24th. Sanford C. Bernstein started coverage on Blackstone in a research report on Monday, June 8th. They set an "outperform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Blackstone in a report on Monday, June 8th. They issued a "buy" rating for the company. Thirteen research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.43.
Read Our Latest Stock Analysis on BX
Insider Activity at Blackstone
In other news, major shareholder Holdings Iv L.P. Blackstone bought 272,642 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average price of $26.14 per share, for a total transaction of $7,126,861.88. Following the completion of the transaction, the insider directly owned 8,704,419 shares in the company, valued at approximately $227,533,512.66. This represents a 3.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat acquired 371 shares of the business's stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $137.17 per share, for a total transaction of $50,890.07. Following the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by company insiders.
Blackstone Stock Performance
BX stock opened at $143.32 on Tuesday. The firm has a 50-day simple moving average of $131.06 and a two-hundred day simple moving average of $122.93. 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 one year low of $101.73 and a one year high of $190.09. The firm has a market cap of $107.58 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 1.55 and a beta of 1.55.
Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. Blackstone'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 company posted $0.98 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 5.99 EPS for the current fiscal year.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Blackstone's previous quarterly dividend of $1.16. Blackstone's payout ratio is 115.44%.
Blackstone Company 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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Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX - Free Report).
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