Scientech Research LLC Acquires Shares of 11,019 Blackstone Inc. (NYSE:BX)

Scientech Research LLC bought a new position in Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,019 shares of the asset manager’s stock, valued at approximately $1,364,000.

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

Blackstone Price Performance

NYSE BX opened at $154.95 on Friday. 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 business’s fifty day moving average is $141.19 and its 200 day moving average is $130.18. The company has a market capitalization of $110.73 billion, a PE ratio of 54.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is currently 115.90%.

Insider Buying and Selling

In other news, Director Joseph Baratta sold 116,448 shares of the firm’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 completion of the transaction, the director now owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 in the company, valued at approximately $56,567,311.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 sale, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company initiated coverage on Blackstone in a research report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price target on the stock. TD Cowen raised their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Barclays increased their target price on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Finally, Bank of America upped their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $130.78.

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.