Sei Investments Co. Purchases 2,087 Shares of Blackstone Inc. $BX

Key Points

• Sei Investments Co. increased its stake in Blackstone Inc. by 0.5%, owning 443,964 shares valued at $62.06 million after purchasing an additional 2,087 shares in the first quarter.
• Blackstone reported strong quarterly earnings, with $1.21 earnings per share, surpassing estimates of $1.10, and a revenue of $3.07 billion, up 32.7% year-over-year.
• The company recently raised its quarterly dividend from $0.93 to $1.03 per share, representing a 2.3% yield, but has a payout ratio of 110.75%.

Sei Investments Co. lifted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443,964 shares of the asset manager's stock after purchasing an additional 2,087 shares during the period. Sei Investments Co. owned 0.06% of Blackstone worth $62,057,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BX. Ascent Group LLC raised its position in Blackstone by 0.9% in the fourth quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock worth $1,469,000 after purchasing an additional 74 shares in the last quarter. Global Assets Advisory LLC lifted its holdings in Blackstone by 1.9% during the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock worth $697,000 after buying an additional 75 shares in the last quarter. Angeles Wealth Management LLC lifted its stake in shares of Blackstone by 0.6% during the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager's stock valued at $1,652,000 after acquiring an additional 76 shares during the period. Aptus Capital Advisors LLC grew its position in shares of Blackstone by 0.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock worth $1,460,000 after buying an additional 78 shares during the period. Finally, Nicolet Advisory Services LLC boosted its stake in Blackstone by 0.7% in the first quarter. Nicolet Advisory Services LLC now owns 12,075 shares of the asset manager's stock valued at $1,539,000 after acquiring an additional 78 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 222 shares of the business's stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $170.29 per share, for a total transaction of $37,804.38. Following the completion of the transaction, the director directly owned 38,753 shares of the company's stock, valued at $6,599,248.37. This trade represents a 0.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the business's 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 sale, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,189,806 shares of company stock valued at $30,046,627 and have sold 16,850,134 shares valued at $131,641,986. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BX has been the topic of several recent research reports. Piper Sandler raised their price target on Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. 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 boosted their price target on shares of Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Blackstone in a research note on Friday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $170.12.

Blackstone Stock Down 1.5%

Shares of NYSE:BX traded down $2.49 during trading on Monday, reaching $169.13. 3,908,108 shares of the stock were exchanged, compared to its average volume of 4,239,091. The firm has a market cap of $124.66 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 1.40 and a beta of 1.71. The stock has a fifty day moving average of $159.05 and a two-hundred day moving average of $149.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

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

Blackstone Increases Dividend

The business also recently disclosed 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 represents a $4.12 dividend on an annualized basis and a yield of 2.4%. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone's dividend payout ratio is 110.75%.

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.