Jackson Hole Capital Partners LLC Increases Holdings in Blackstone Inc. (NYSE:BX)

Jackson Hole Capital Partners LLC increased its position in Blackstone Inc. (NYSE:BX) by 26.0% in the 1st quarter, HoldingsChannel reports. The fund owned 1,707 shares of the asset manager’s stock after purchasing an additional 352 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Blackstone were worth $239,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in BX. Meiji Yasuda Asset Management Co Ltd. grew its stake in Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after buying an additional 62 shares during the last quarter. Ascent Group LLC grew its stake in Blackstone by 0.9% during the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager’s stock valued at $1,469,000 after purchasing an additional 74 shares during the last quarter. Global Assets Advisory LLC lifted its holdings in shares of Blackstone by 1.9% in the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager’s stock valued at $697,000 after buying an additional 75 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of Blackstone by 0.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager’s stock valued at $1,460,000 after buying an additional 78 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Blackstone by 8.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,027 shares of the asset manager’s stock valued at $177,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BX shares. Citigroup reaffirmed a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. 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. Cowen reaffirmed a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Morgan Stanley cut 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. Finally, Bank of America lowered their price objective on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $162.18.

Blackstone Trading Up 4.3%

BX traded up $7.35 during trading on Thursday, hitting $179.31. The company’s stock had a trading volume of 1,957,451 shares, compared to its average volume of 4,288,978. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The firm’s 50 day moving average price is $147.85 and its 200-day moving average price is $150.61. The stock has a market cap of $130.84 billion, a PE ratio of 53.95, a PEG ratio of 1.53 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. Blackstone’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. On average, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, August 4th will be paid a $1.03 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a yield of 2.30%. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider directly owned 475,336 shares in the company, valued at $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,849,769 shares of company stock valued at $54,932,307. Company insiders own 1.00% of the company’s stock.

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.