MBL Wealth LLC bought a new stake in Blackstone Inc. (NYSE:BX – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,594 shares of the asset manager’s stock, valued at approximately $238,000.
Other institutional investors have also modified their holdings of the company. 1248 Management LLC acquired a new position in Blackstone in the 1st quarter valued at about $25,000. von Borstel & Associates Inc. purchased a new stake in Blackstone during the 1st quarter worth approximately $28,000. Wealth Preservation Advisors LLC acquired a new stake in Blackstone during the 1st quarter worth approximately $28,000. Anderson Financial Strategies LLC purchased a new stake in shares of Blackstone during the first quarter worth $28,000. Finally, Family CFO Inc acquired a new stake in shares of Blackstone in the 2nd quarter valued at $28,000. 70.00% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Blackstone
In other news, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the stock in a transaction on Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.
Blackstone Stock Up 1.1%
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. Equities research analysts forecast that Blackstone Inc. will post 5.87 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 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.4%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.
Wall Street Analysts Forecast Growth
BX has been the topic of a number of recent research reports. JMP Securities lifted their target price on shares of Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Saturday, September 27th. Bank of America decreased their price target on shares of Blackstone from $200.00 to $199.00 in a research note on Friday. Keefe, Bruyette & Woods increased their price target on Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.53.
Read Our Latest Report on Blackstone
Blackstone Company 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.
Read More
- Five stocks we like better than Blackstone
- How to Evaluate a Stock Before BuyingÂ
- 3 Defense Stocks Surging as Ukraine Tensions Deepen
- High Flyers: 3 Natural Gas Stocks for March 2022
- Starbucks Stock Slumps; This Competitor Shows Strength
- Bank Stocks – Best Bank Stocks to Invest In
- The Trade Desk: 2 Signs of a Comeback, 1 Risk Ahead
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.