Blackstone Inc. $BX Shares Purchased by Janney Capital Management LLC

Janney Capital Management LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 11.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,720 shares of the asset manager’s stock after buying an additional 385 shares during the quarter. Janney Capital Management LLC’s holdings in Blackstone were worth $556,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its stake in shares of Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after purchasing an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Blackstone by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after acquiring an additional 1,102,949 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after purchasing an additional 742,829 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Blackstone by 4.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock valued at $599,872,000 after purchasing an additional 182,526 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Blackstone by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock worth $581,886,000 after buying an additional 117,724 shares during the period. 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. JMP Securities raised their target price on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research note on Friday, July 25th. The Goldman Sachs Group restated a “neutral” rating on shares of Blackstone in a report on Friday, July 25th. Barclays increased their target price on Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a research note 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 report on Monday, July 28th. Finally, Wells Fargo & Company raised their price objective on shares of Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.71.

Blackstone Stock Down 3.0%

Shares of NYSE:BX opened at $170.94 on Wednesday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company’s fifty day moving average is $174.31 and its two-hundred day moving average is $153.38. 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 stock has a market capitalization of $126.00 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.77.

Blackstone (NYSE:BX) last issued its earnings results 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. The firm had revenue of $3.07 billion for 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%. Blackstone’s revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a $1.03 dividend. The ex-dividend date was Monday, August 4th. 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 2.4%. Blackstone’s dividend payout ratio (DPR) is 110.75%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were bought at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of Blackstone stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the transaction, the insider owned 4,178,771 shares of the company’s stock, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. 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.