Blackstone Inc. (NYSE:BX) Position Boosted by Triumph Capital Management

Triumph Capital Management lifted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 52.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,271 shares of the asset manager's stock after purchasing an additional 3,195 shares during the quarter. Triumph Capital Management's holdings in Blackstone were worth $1,296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone in the fourth quarter valued at $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Blackstone in the fourth quarter valued at $34,000. Putney Financial Group LLC purchased a new position in Blackstone in the fourth quarter valued at $34,000. von Borstel & Associates Inc. purchased a new position in Blackstone in the first quarter valued at $28,000. Finally, Garde Capital Inc. purchased a new position in Blackstone in the first quarter valued at $36,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Performance

NYSE BX traded down $0.15 on Friday, hitting $177.96. 3,595,256 shares of the company's stock were exchanged, compared to its average volume of 4,164,950. The firm has a market cap of $129.85 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 1.60 and a beta of 1.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.75. The firm's 50-day moving average price is $149.10 and its two-hundred day moving average price is $150.68. 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 posted its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Blackstone's revenue was up 32.7% on a year-over-year basis. On average, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, August 4th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, August 4th. Blackstone's dividend payout ratio is presently 112.05%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BX shares. Cowen reiterated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Piper Sandler reaffirmed a "neutral" rating on shares of Blackstone in a report on Thursday, July 10th. Morgan Stanley decreased their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup reissued a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. Finally, TD Cowen reduced their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average price target of $168.71.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the sale, the insider directly owned 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat purchased 237 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $136.33 per share, with a total value of $32,310.21. Following the completion of the acquisition, the director owned 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,849,769 shares of company stock valued at $54,932,307. Corporate insiders own 1.00% of the company's stock.

Blackstone 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.