KPP Advisory Services LLC Has $492,000 Holdings in Blackstone Inc. (NYSE:BX)

KPP Advisory Services LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 42.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,978 shares of the asset manager’s stock after selling 2,905 shares during the quarter. KPP Advisory Services LLC’s holdings in Blackstone were worth $492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after purchasing an additional 1,290,324 shares during the period. Capital World Investors lifted its stake in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after buying an additional 2,546,886 shares in the last quarter. Wulff Hansen & CO. increased its position in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares in the last quarter. Legal & General Group Plc lifted its position in Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after acquiring an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Blackstone by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after purchasing an additional 21,450 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. TD Cowen upped their target price 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. Morgan Stanley boosted their price target on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Piper Sandler lifted their target price on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Barclays upped their target price on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and an average target price of $130.78.

Blackstone Stock Down 0.8 %

Blackstone stock opened at $151.88 on Wednesday. The firm has a market capitalization of $108.54 billion, a price-to-earnings ratio of 53.67, a P/E/G ratio of 1.34 and a beta of 1.51. The firm has a 50 day simple moving average of $141.92 and a 200 day simple moving average of $130.86. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $161.25. 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 issued its quarterly earnings data 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). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. On average, analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.16%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is presently 115.90%.

Insider Buying and Selling at Blackstone

In related 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 owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

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.