OMC Financial Services LTD Purchases 101 Shares of Blackstone Inc. $BX

OMC Financial Services LTD boosted its stake in Blackstone Inc. (NYSE:BX) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,153 shares of the asset manager’s stock after buying an additional 101 shares during the quarter. OMC Financial Services LTD’s holdings in Blackstone were worth $1,369,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Citizens & Northern Corp boosted its stake in Blackstone by 19.1% in the 2nd quarter. Citizens & Northern Corp now owns 15,607 shares of the asset manager’s stock valued at $2,334,000 after buying an additional 2,502 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Blackstone by 0.7% in the 2nd quarter. D.A. Davidson & CO. now owns 160,582 shares of the asset manager’s stock valued at $24,020,000 after buying an additional 1,158 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Blackstone by 2.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 147,094 shares of the asset manager’s stock valued at $22,002,000 after buying an additional 4,132 shares in the last quarter. Beech Hill Advisors Inc. boosted its stake in Blackstone by 16.8% in the 2nd quarter. Beech Hill Advisors Inc. now owns 29,970 shares of the asset manager’s stock valued at $4,483,000 after buying an additional 4,310 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Blackstone by 2.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 135,824 shares of the asset manager’s stock worth $20,316,000 after purchasing an additional 3,636 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 0.7%

NYSE BX opened at $161.63 on Wednesday. The stock has a 50-day simple moving average of $171.23 and a 200 day simple moving average of $155.27. The company has a market capitalization of $119.14 billion, a PE ratio of 43.45, a P/E/G ratio of 1.30 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 Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current 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 issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio is currently 110.75%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent analyst reports. BNP Paribas Exane boosted their price objective on Blackstone from $166.00 to $178.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Barclays reduced their price objective on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Blackstone from $160.00 to $177.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. TD Cowen dropped their target price on Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Finally, BMO Capital Markets began coverage on Blackstone in a research report on Friday, October 3rd. They set an “outperform” rating and a $190.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.68.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the sale, the insider owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone 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.