Centaurus Financial Inc. purchased a new stake in shares of Blackstone Inc. (NYSE:BX – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 29,541 shares of the asset manager’s stock, valued at approximately $3,476,000.
Other hedge funds have also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in shares of Blackstone during the fourth quarter worth $28,000. Strive Asset Management LLC bought a new stake in Blackstone during the 3rd quarter valued at about $30,000. Bell Investment Advisors Inc bought a new position in Blackstone in the 2nd quarter worth about $30,000. Addison Advisors LLC purchased a new position in shares of Blackstone during the second quarter worth approximately $30,000. Finally, Palladiem LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $31,000. Institutional investors own 70.00% of the company’s stock.
Blackstone Stock Up 0.3%
Blackstone stock opened at $143.62 on Friday. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The firm has a market cap of $107.80 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.56. The business’s 50-day moving average price is $130.28 and its 200 day moving average price is $122.78. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.
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 issued a $1.29 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change 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%. Blackstone’s dividend payout ratio is presently 115.44%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on BX shares. Citizens Jmp lowered their target price on Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Rothschild & Co Redburn reduced their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. HSBC restated a “hold” rating and set a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. Sanford C. Bernstein assumed coverage on shares of Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group boosted their price target on Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Blackstone presently has an average rating of “Moderate Buy” and a consensus target price of $149.43.
Read Our Latest Research Report on Blackstone
Insider Buying and Selling at Blackstone
In other Blackstone news, insider John G. Finley sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total value of $6,619,950.00. Following the sale, the insider directly owned 516,017 shares of the company’s stock, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 30,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $117,883,632.95. The trade was a 3.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. Insiders own 1.00% of the company’s stock.
Blackstone Company Profile
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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