Waterloo Capital L.P. Increases Stake in Blackstone Inc. $BX

Waterloo Capital L.P. raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 33,361 shares of the asset manager’s stock after purchasing an additional 462 shares during the period. Waterloo Capital L.P.’s holdings in Blackstone were worth $4,990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC grew its holdings in Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock worth $9,346,000 after purchasing an additional 1,949 shares during the last quarter. Redmond Asset Management LLC increased its position in Blackstone by 21.2% during the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after buying an additional 3,281 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in Blackstone in the second quarter worth about $273,000. Vanguard Group Inc. increased its stake in Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after purchasing an additional 1,494,796 shares in the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at $423,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Up 3.0%

BX stock opened at $142.59 on Friday. The stock has a market cap of $105.30 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 1.18 and a beta of 1.76. The business’s 50-day moving average is $159.22 and its 200 day moving average is $157.92. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion during the quarter. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is currently 147.43%.

Analysts Set New Price Targets

BX has been the topic of several research reports. TD Cowen cut their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, October 24th. JPMorgan Chase & Co. cut their price objective on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Barclays lowered their price target on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. The Goldman Sachs Group boosted their price target on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Breyer purchased 13,900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 2,565,543 shares of company stock worth $69,050,139. 1.00% of the stock is owned by company insiders.

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.