Bryn Mawr Trust Advisors LLC Has $2 Million Stock Position in Blackstone Inc. $BX

Bryn Mawr Trust Advisors LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,336 shares of the asset manager’s stock after acquiring an additional 770 shares during the period. Bryn Mawr Trust Advisors LLC’s holdings in Blackstone were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Perigon Wealth Management LLC lifted its holdings in shares of Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after purchasing an additional 1,949 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in Blackstone during the 2nd quarter worth approximately $273,000. Redmond Asset Management LLC raised its holdings in shares of Blackstone by 21.2% in the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after purchasing an additional 3,281 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in Blackstone during the second quarter worth $423,000. Finally, Sandy Cove Advisors LLC increased its stake in Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after buying an additional 2,182 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 1.8%

BX stock opened at $146.00 on Friday. The stock has a market cap of $107.61 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The company has a fifty day moving average price of $165.79 and a two-hundred day moving average price of $157.17. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 3rd. Blackstone’s dividend payout ratio is 147.43%.

Insiders Place Their Bets

In other news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Breyer bought 13,900 shares of Blackstone stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the transaction, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This trade represents a 25.27% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 2,565,415 shares of company stock worth $69,037,981 and sold 16,875,234 shares worth $136,847,628. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. HSBC decreased their price objective on Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Citigroup decreased their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Morgan Stanley increased their price objective on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Evercore ISI lowered their target price on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Finally, TD Cowen decreased their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.74.

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.