Blackstone Inc. $BX Shares Purchased by Beaumont Asset Management L.L.C.

Beaumont Asset Management L.L.C. increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,336 shares of the asset manager’s stock after acquiring an additional 642 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Blackstone were worth $1,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BX. Mattern Wealth Management LLC increased its holdings in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the period. Sage Rhino Capital LLC raised its position in shares of Blackstone by 0.8% during the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after buying an additional 63 shares during the last quarter. Jeppson Wealth Management LLC raised its position in shares of Blackstone by 1.0% during the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock valued at $980,000 after buying an additional 66 shares during the last quarter. McAdam LLC raised its position in shares of Blackstone by 4.4% during the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock valued at $246,000 after buying an additional 75 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its position in shares of Blackstone by 0.6% during the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock valued at $1,652,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average price of $25.22 per share, for a total transaction of $29,999,997.04. Following the completion of the acquisition, the insider directly owned 4,178,771 shares of the company’s stock, valued at $105,388,604.62. This trade represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of analyst reports. Citigroup reissued a “market perform” rating on shares of Blackstone in a research note on Saturday, July 19th. BNP Paribas Exane upped their target price on shares of Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Piper Sandler upped their target price on shares of Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $170.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, BMO Capital Markets assumed coverage on shares of Blackstone in a research note on Friday, October 3rd. They issued an “outperform” rating and a $190.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine 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 a consensus price target of $179.67.

Blackstone Price Performance

Shares of Blackstone stock opened at $162.48 on Thursday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm’s 50-day moving average price is $173.11 and its two-hundred day moving average price is $154.09. The stock has a market capitalization of $119.76 billion, a price-to-earnings ratio of 43.68, a P/E/G ratio of 1.34 and a beta of 1.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the business earned $0.98 earnings per share. Blackstone’s quarterly revenue was up 32.7% on a year-over-year basis. On average, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

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.