Blackstone Inc. (NYSE:BX) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its position in Blackstone Inc. (NYSE:BX) by 11.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 54,159 shares of the asset manager’s stock after purchasing an additional 5,479 shares during the period. EverSource Wealth Advisors LLC’s holdings in Blackstone were worth $6,705,000 at the end of the most recent quarter.

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

Insider Activity

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

Wall Street Analyst Weigh In

BX has been the topic of a number of recent analyst reports. TD Cowen upped their target price 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America lifted their price objective on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company assumed coverage on Blackstone in a report on Thursday, September 12th. They set an “overweight” rating and a $163.00 target price for the company. Finally, Redburn Atlantic started coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $130.78.

Blackstone Stock Down 1.0 %

Shares of Blackstone stock opened at $158.12 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $161.25. The business has a 50-day moving average of $139.58 and a 200-day moving average of $129.36. The company has a market capitalization of $113.00 billion, a PE ratio of 55.87, a P/E/G ratio of 1.23 and a beta of 1.51.

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

Blackstone Cuts Dividend

The firm 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. 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 2.07%. Blackstone’s dividend payout ratio is currently 115.90%.

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.