Compass Financial Management LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 6,674 shares of the asset manager’s stock, valued at approximately $821,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at $28,000. Bell Investment Advisors Inc purchased a new position in shares of Blackstone during the 2nd quarter worth about $30,000. Addison Advisors LLC purchased a new stake in Blackstone in the 2nd quarter worth about $30,000. Strive Asset Management LLC bought a new position in shares of Blackstone during the third quarter valued at approximately $30,000. Finally, Palladiem LLC bought a new stake in shares of Blackstone during the 4th quarter worth approximately $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Citizens Jmp cut their price objective on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group boosted their target price on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler raised their price target on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. TD Cowen boosted their price objective on shares of Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.95.
Insider Activity at Blackstone
In other news, insider Vikrant Sawhney sold 30,000 shares of Blackstone stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total value of $4,066,500.00. Following the transaction, the insider directly owned 869,669 shares in the company, valued at approximately $117,883,632.95. This trade represents a 3.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO David Payne sold 9,500 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total value of $1,379,685.00. Following the completion of the transaction, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at approximately $9,359,783.04. The trade was a 12.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 1,339,180 shares of company stock valued at $35,062,433 and sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is owned by corporate insiders.
Blackstone Price Performance
BX opened at $143.56 on Monday. The company has a market capitalization of $107.76 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.56 and a beta of 1.56. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The business’s fifty day simple moving average is $128.82 and its 200-day simple moving average is $122.44.
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 for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.42 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities research analysts anticipate that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio is currently 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.
Featured Articles
- Five stocks we like better than Blackstone
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.
