Fairscale Capital LLC Makes New $629,000 Investment in Blackstone Inc. (NYSE:BX)

Fairscale Capital LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,589 shares of the asset manager’s stock, valued at approximately $629,000.

Other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC bought a new position in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone in the 2nd quarter valued at approximately $27,000. Bank & Trust Co acquired a new position in Blackstone during the second quarter worth $29,000. Finally, Ridgewood Investments LLC acquired a new stake in Blackstone in the second quarter valued at $31,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of a number of research analyst reports. Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Wells Fargo & Company initiated coverage on Blackstone in a report on Thursday, September 12th. They set an “overweight” rating and a $163.00 target price on the stock. Barclays raised their price target on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. TD Cowen increased their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, Piper Sandler lifted their target price on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $130.78.

Insider Buying and Selling at Blackstone

In other news, 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 sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction 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 sale, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction dated 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 $56,567,311.64. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.0 %

Shares of NYSE BX opened at $158.12 on Friday. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $161.25. The stock’s fifty day moving average is $139.58 and its 200 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. The stock has a market capitalization of $113.00 billion, a P/E ratio of 55.87, a PEG ratio of 1.23 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company posted $0.93 EPS. The business’s revenue was up 166.9% on a year-over-year basis. Sell-side analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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.