Blackstone Inc. (NYSE:BX) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its stake in shares of Blackstone Inc. (NYSE:BX) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,061 shares of the asset manager’s stock after purchasing an additional 715 shares during the period. Summit Trail Advisors LLC’s holdings in Blackstone were worth $1,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its position in Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock worth $5,524,000 after purchasing an additional 1,036 shares during the last quarter. Pacer Advisors Inc. increased its position in Blackstone by 4.5% during the second quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock worth $6,313,000 after purchasing an additional 2,206 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Blackstone by 2.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 200,265 shares of the asset manager’s stock worth $24,827,000 after buying an additional 4,200 shares during the period. AE Wealth Management LLC grew its stake in Blackstone by 100.5% during the second quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock worth $1,253,000 after buying an additional 5,072 shares during the period. Finally, Callan Capital LLC grew its stake in Blackstone by 21.1% during the second quarter. Callan Capital LLC now owns 7,968 shares of the asset manager’s stock worth $986,000 after buying an additional 1,386 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BX. Morgan Stanley boosted their price objective on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Piper Sandler boosted their price objective on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Bank of America upped their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Barclays upped their target price on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $130.78.

Blackstone Stock Down 1.0 %

Shares of NYSE:BX opened at $158.12 on Friday. The stock has a market capitalization of $113.00 billion, a price-to-earnings ratio of 55.87, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $161.25. The company’s fifty day moving average is $139.58 and its two-hundred day moving average is $129.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm’s revenue was up 166.9% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. Equities analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is 115.90%.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider John G. Finley sold 35,000 shares of the 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 sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.