Texas Yale Capital Corp. Purchases 4,890 Shares of Blackstone Inc. (NYSE:BX)

Key Points

• Texas Yale Capital Corp. increased its stake in Blackstone Inc. by 3.5% during the 1st quarter, holding 143,624 shares valued at approximately $20 million at the end of the period.
• Insider transactions included Director Ruth Porat purchasing shares and insider John G. Finley selling 25,000 shares, reflecting mixed confidence from company insiders.
• Blackstone recently reported a 32.7% year-over-year revenue growth, earning $1.21 EPS, above analyst estimates, and announced an increased quarterly dividend of $1.03 per share.

Texas Yale Capital Corp. boosted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,624 shares of the asset manager's stock after purchasing an additional 4,890 shares during the quarter. Blackstone comprises approximately 0.8% of Texas Yale Capital Corp.'s holdings, making the stock its 10th largest holding. Texas Yale Capital Corp.'s holdings in Blackstone were worth $20,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in Blackstone during the 1st quarter valued at about $28,000. Bernard Wealth Management Corp. bought a new position in Blackstone during the 4th quarter valued at about $34,000. Putney Financial Group LLC bought a new position in Blackstone during the 4th quarter valued at about $34,000. Garde Capital Inc. bought a new position in Blackstone during the 1st quarter valued at about $36,000. Finally, Wayfinding Financial LLC bought a new position in Blackstone during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Down 0.7%

Shares of BX stock traded down $1.28 during trading hours on Monday, reaching $176.82. 2,674,948 shares of the company's stock were exchanged, compared to its average volume of 3,963,121. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The company has a market cap of $129.02 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 1.55 and a beta of 1.65. The stock's 50 day moving average is $149.10 and its 200-day moving average is $150.35. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its 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. The firm had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm's revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, August 4th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Blackstone's previous quarterly dividend of $0.93. Blackstone's payout ratio is 100.00%.

Insider Buying and Selling

In other news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider directly owned 1,666,667 shares of the company's stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone purchased 1,189,532 shares of the stock in a transaction on Friday, July 18th. The shares were purchased at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the acquisition, the insider directly owned 4,178,771 shares in the company, valued at $105,388,604.62. This represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,849,769 shares of company stock valued at $54,932,307. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BX. Evercore ISI upped their price target on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a report on Friday. TD Cowen dropped their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Barclays upped their target price on shares of Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Friday. The Goldman Sachs Group restated a "neutral" rating on shares of Blackstone in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $170.12.

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.