Bokf Na Has $1.09 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Bokf Na lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 12.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,764 shares of the asset manager’s stock after purchasing an additional 940 shares during the period. Bokf Na’s holdings in Blackstone were worth $1,085,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after buying an additional 1,290,324 shares during the period. Capital World Investors increased its position in Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares during the last quarter. Norges Bank acquired a new position in Blackstone in the 4th quarter worth about $708,859,000. Janus Henderson Group PLC increased its position in Blackstone by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after purchasing an additional 21,450 shares during the last quarter. Finally, Lone Pine Capital LLC acquired a new position in Blackstone in the 4th quarter worth about $290,514,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction 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 approximately $56,567,311.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value 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 approximately $113,305,632. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of NYSE:BX opened at $151.19 on Monday. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $151.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The business’s fifty day moving average price is $136.38 and its two-hundred day moving average price is $128.34. The stock has a market capitalization of $108.87 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51.

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

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.17%. Blackstone’s payout ratio is 115.90%.

Analyst Ratings Changes

Several equities analysts have weighed in on BX shares. Barclays boosted their price target on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Wells Fargo & Company assumed coverage on Blackstone in a research report on Thursday. They set an “overweight” rating and a $163.00 target price for the company. TD Cowen boosted their price objective 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. Redburn Atlantic started 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. Finally, Morgan Stanley raised their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $130.78.

About Blackstone

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.