OMERS ADMINISTRATION Corp Invests $4.93 Million in Blackstone Inc. $BX

Key Points

• OMERS Administration Corp. initiated a $4.93 million position in Blackstone during the second quarter, purchasing 41,880 shares. Institutional investors own approximately 70% of Blackstone’s outstanding stock.
• Blackstone reported strong quarterly results, with EPS of $1.52 surpassing estimates of $1.34 and revenue rising 35.9% year over year to $5.04 billion.
• The company increased its quarterly dividend to $1.29 per share, equivalent to an annualized $5.16 payout and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $147.95.

OMERS ADMINISTRATION Corp bought a new position in Blackstone Inc. (NYSE:BX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 41,880 shares of the asset manager's stock, valued at approximately $4,928,000.

A number of other institutional investors also recently made changes to their positions in the business. Strive Asset Management LLC purchased a new position in shares of Blackstone in the third quarter worth about $30,000. Ares Financial Consulting LLC purchased a new position in shares of Blackstone in the fourth quarter valued at about $28,000. Kelleher Financial Advisors purchased a new stake in shares of Blackstone during the third quarter worth about $34,000. Palladiem LLC bought a new stake in shares of Blackstone in the fourth quarter worth about $31,000. Finally, Entrust Financial LLC purchased a new position in Blackstone during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company's stock, valued at $73,233.72. This trade represents a 99.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vikrant Sawhney sold 30,000 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total value of $4,066,500.00. Following the completion of the sale, the insider directly owned 869,669 shares in the company, valued at $117,883,632.95. This trade represents a 3.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $143.66 on Tuesday. The business has a fifty day simple moving average of $129.20 and a two-hundred day simple moving average of $122.50. The firm has a market capitalization of $107.83 billion, a P/E ratio of 32.14, a P/E/G ratio of 1.56 and a beta of 1.55. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 12 month low of $101.73 and a 12 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, topping the consensus estimate of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. Blackstone's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. On average, equities analysts forecast that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $1.29 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Blackstone's previous quarterly dividend of $1.16. Blackstone's payout ratio is presently 115.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Blackstone from $143.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods upgraded shares of Blackstone to a "hold" rating in a report on Monday, July 20th. JPMorgan Chase & Co. decreased their price objective on shares of Blackstone from $136.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, July 16th. HSBC reaffirmed a "hold" rating and set a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Blackstone from $114.00 to $127.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.95.

Blackstone Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source