Blackstone Inc. $BX Shares Acquired by YHB Investment Advisors Inc.

Key Points

• YHB Investment Advisors Inc. increased its stake in Blackstone Inc. by 128.7% in the second quarter, bringing its total shares to 5,421, valued at approximately $811,000.
• Blackstone recently reported earnings of $1.21 per share for the quarter, exceeding analysts' expectations and reflecting a 32.7% year-over-year revenue increase.
• The company announced a quarterly dividend increase to $1.03 per share from a previous $0.93, resulting in an annualized dividend yield of 2.2%.

YHB Investment Advisors Inc. raised its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 128.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,421 shares of the asset manager's stock after acquiring an additional 3,051 shares during the period. YHB Investment Advisors Inc.'s holdings in Blackstone were worth $811,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Ascent Group LLC lifted its stake 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 acquiring an additional 74 shares during the last quarter. McAdam LLC lifted its stake in Blackstone by 4.4% in the first quarter. McAdam LLC now owns 1,762 shares of the asset manager's stock worth $246,000 after acquiring an additional 75 shares during the last quarter. Angeles Wealth Management LLC lifted its stake in Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager's stock worth $1,652,000 after acquiring an additional 76 shares during the last quarter. Park National Corp OH lifted its position in shares of Blackstone by 3.4% during the 2nd quarter. Park National Corp OH now owns 2,334 shares of the asset manager's stock worth $349,000 after buying an additional 77 shares during the last quarter. Finally, Breakwater Capital Group lifted its position in shares of Blackstone by 5.0% during the 2nd quarter. Breakwater Capital Group now owns 1,613 shares of the asset manager's stock worth $241,000 after buying an additional 77 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BX has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $168.00 to $180.00 and gave the stock a "market perform" rating in a research report on Friday, July 25th. Piper Sandler upped their price target on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. JMP Securities upped their price target on shares of Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a research report on Friday, July 25th. Dbs Bank upgraded shares of Blackstone to a "moderate buy" rating in a research report on Tuesday, August 12th. Finally, Barclays upped their price target on shares of Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Blackstone presently has an average rating of "Moderate Buy" and an average price target of $172.38.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the transaction, the insider owned 453,836 shares in the company, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,189,806 shares of company stock worth $30,046,627 and sold 16,871,634 shares worth $135,328,376. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

BX traded down $0.69 during trading on Friday, hitting $187.99. The stock had a trading volume of 7,403,015 shares, compared to its average volume of 3,242,008. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $138.57 billion, a P/E ratio of 50.53, a PEG ratio of 1.52 and a beta of 1.77. The company's 50-day moving average price is $172.71 and its 200 day moving average price is $151.57. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share 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 for the quarter, compared to analysts' expectations of $2.77 billion. During the same period in the prior year, the company posted $0.98 EPS. The business's revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio is currently 110.75%.

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.