Mattson Financial Services LLC Grows Stock Position in Blackstone Inc. $BX

Mattson Financial Services LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,915 shares of the asset manager’s stock after purchasing an additional 251 shares during the period. Mattson Financial Services LLC’s holdings in Blackstone were worth $885,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund boosted its position in shares of Blackstone by 105.4% during the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock worth $1,874,000 after buying an additional 6,878 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Blackstone during the second quarter worth $273,000. Sandy Cove Advisors LLC boosted its position in shares of Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after buying an additional 2,182 shares during the period. Bourgeon Capital Management LLC purchased a new position in shares of Blackstone during the second quarter worth $423,000. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of Blackstone by 14.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after acquiring an additional 1,863 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of BX stock opened at $158.01 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $171.91 and a 200 day moving average price of $154.68. The company has a market cap of $116.47 billion, a P/E ratio of 42.48, a PEG ratio of 1.33 and a beta of 1.77. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $2.49 billion during the quarter. Sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio is presently 110.75%.

Wall Street Analyst Weigh In

Several research firms have commented on BX. Barclays dropped their price target on shares of Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group boosted their price target on shares of Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $160.00 to $177.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, JMP Securities boosted their target price on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and a consensus price target of $180.26.

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.