Pacer Advisors Inc. Acquires 2,206 Shares of Blackstone Inc. (NYSE:BX)

Pacer Advisors Inc. increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 50,996 shares of the asset manager’s stock after acquiring an additional 2,206 shares during the period. Pacer Advisors Inc.’s holdings in Blackstone were worth $6,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new stake in shares of Blackstone during the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone during the 2nd quarter valued at $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the 2nd quarter valued at $27,000. Bank & Trust Co bought a new stake in Blackstone during the 2nd quarter valued at $29,000. Finally, Scarborough Advisors LLC bought a new stake in Blackstone during the 4th quarter valued at $32,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Down 0.6 %

Shares of BX stock opened at $157.21 on Tuesday. The company’s 50-day moving average price is $140.08 and its 200-day moving average price is $129.63. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $112.35 billion, a price-to-earnings ratio of 55.55, a PEG ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $161.25.

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

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.09%. Blackstone’s dividend payout ratio is currently 115.90%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on 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 $113,305,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value 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 $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BX. Piper Sandler lifted their target price on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays lifted 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. Bank of America lifted their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Morgan Stanley lifted their price target on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target 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.