Quest Partners LLC Has $151,000 Stake in Blackstone Inc. (NYSE:BX)

Quest Partners LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 12,090.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,219 shares of the asset manager’s stock after purchasing an additional 1,209 shares during the quarter. Quest Partners LLC’s holdings in Blackstone were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Moseley Investment Management Inc. raised its holdings in Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after purchasing an additional 74 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in Blackstone by 0.6% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after acquiring an additional 80 shares during the last quarter. Signaturefd LLC raised its position in shares of Blackstone by 0.6% in the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 80 shares in the last quarter. WR Wealth Planners LLC boosted its position in shares of Blackstone by 23.7% during the 2nd quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 84 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. grew its stake in Blackstone by 1.3% during the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after purchasing an additional 84 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BX. Barclays increased their target price on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Piper Sandler raised their price objective on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Bank of America increased their target price on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $130.78.

Blackstone Price Performance

BX stock opened at $154.58 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $111.31 billion, a P/E ratio of 54.62, a P/E/G ratio of 1.23 and a beta of 1.51. The firm’s fifty day moving average is $137.05 and its 200 day moving average is $128.53. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $155.18.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company’s revenue was up 166.9% compared to the same quarter last year. Research analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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.