Blackstone Inc. (NYSE:BX) Shares Acquired by New Century Financial Group LLC

New Century Financial Group LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 60.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,459 shares of the asset manager’s stock after buying an additional 923 shares during the quarter. New Century Financial Group LLC’s holdings in Blackstone were worth $304,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after acquiring an additional 7,692 shares during the last quarter. Norden Group LLC grew its position in Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after purchasing an additional 34,872 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Blackstone by 10.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after buying an additional 459 shares during the period. Secured Retirement Advisors LLC acquired a new stake in Blackstone during the fourth quarter worth about $1,073,000. Finally, Global Assets Advisory LLC acquired a new position in Blackstone in the first quarter valued at approximately $65,050,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BX. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Piper Sandler boosted their price objective on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. TD Cowen raised their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company assumed coverage on Blackstone in a research report on Thursday, September 12th. They set an “overweight” rating and a $163.00 price objective on the stock. Finally, Bank of America raised their target price on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $130.78.

Insider Buying and Selling at Blackstone

In related 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 owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Down 0.8 %

Shares of NYSE BX opened at $151.88 on Wednesday. The stock has a fifty day simple moving average of $141.92 and a 200-day simple moving average of $130.86. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $161.25. The stock has a market capitalization of $108.54 billion, a PE ratio of 53.67, a PEG ratio of 1.34 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. On average, equities analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.16%. 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.