Mackenzie Financial Corp Buys 912,685 Shares of Blackstone Inc. (NYSE:BX)

Mackenzie Financial Corp grew its position in Blackstone Inc. (NYSE:BX) by 468.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,107,547 shares of the asset manager’s stock after purchasing an additional 912,685 shares during the quarter. Mackenzie Financial Corp owned approximately 0.15% of Blackstone worth $137,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BX. Moseley Investment Management Inc. increased its holdings in Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after acquiring an additional 74 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after purchasing an additional 80 shares in the last quarter. Signaturefd LLC increased its position in Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 80 shares during the last quarter. WR Wealth Planners LLC lifted its position in Blackstone by 23.7% during the second quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 84 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. increased its holdings in shares of Blackstone by 1.3% in the 2nd quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after buying an additional 84 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on BX. 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. Bank of America increased their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Redburn Atlantic began coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. Barclays raised their price target on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Finally, Morgan Stanley upped their target price on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $130.78.

Blackstone Trading Up 1.0 %

NYSE BX opened at $154.95 on Friday. The firm has a market cap 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 52 week low of $88.59 and a 52 week high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average price of $141.19 and a 200 day moving average price of $130.18.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a $0.82 dividend. 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 at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Blackstone 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 transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 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 currently owned by company insiders.

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.