Bryn Mawr Trust Advisors LLC acquired a new position in Blackstone Inc. (NYSE:BX – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,604 shares of the asset manager’s stock, valued at approximately $1,601,000.
A number of other hedge funds have also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after buying an additional 177 shares during the last quarter. United Bank lifted its position in Blackstone by 14.7% during the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after acquiring an additional 1,729 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in Blackstone in the second quarter valued at approximately $1,124,000. Finally, Sei Investments Co. grew its stake in shares of Blackstone by 1.9% during the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after acquiring an additional 8,655 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.
Insider Transactions at Blackstone
In other news, insider Vikrant Sawhney sold 30,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the completion of the sale, the insider owned 869,669 shares in the company, valued at approximately $117,883,632.95. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Porat purchased 371 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $137.17 per share, for a total transaction of $50,890.07. Following the transaction, the director directly owned 42,189 shares in the company, valued at $5,787,065.13. This trade represents a 0.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. Company insiders own 1.00% of the company’s stock.
Wall Street Analyst Weigh In
Blackstone Trading Down 3.6%
Shares of Blackstone stock opened at $143.94 on Friday. The company has a fifty day simple moving average of $126.51 and a 200-day simple moving average of $122.70. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The stock has a market cap of $108.04 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 1.66 and a beta of 1.56.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Blackstone’s revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities analysts forecast that Blackstone Inc. will post 6 EPS for the current fiscal year.
Blackstone Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, August 3rd. Blackstone’s dividend payout ratio (DPR) is presently 115.44%.
About Blackstone
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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