O ROURKE & COMPANY Inc Has $8.21 Million Stake in Blackstone Inc. (NYSE:BX)

O ROURKE & COMPANY Inc grew its stake in Blackstone Inc. (NYSE:BX) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,273 shares of the asset manager’s stock after acquiring an additional 387 shares during the quarter. Blackstone accounts for 4.6% of O ROURKE & COMPANY Inc’s holdings, making the stock its 4th biggest position. O ROURKE & COMPANY Inc’s holdings in Blackstone were worth $8,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in Blackstone by 6.3% in the 4th quarter. International Assets Investment Management LLC now owns 27,680 shares of the asset manager’s stock valued at $3,624,000 after buying an additional 1,640 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Blackstone by 14.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 66,788 shares of the asset manager’s stock worth $8,744,000 after purchasing an additional 8,210 shares during the last quarter. Cullen Investment Group LTD. acquired a new position in Blackstone in the 4th quarter valued at $887,000. Hoxton Planning & Management LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $228,000. Finally, Bourgeon Capital Management LLC grew its stake in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.5 %

BX stock traded down $2.00 during mid-day trading on Friday, reaching $134.28. 3,727,106 shares of the company traded hands, compared to its average volume of 3,535,873. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average price is $129.57 and its 200 day moving average price is $126.41. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $145.16. The stock has a market cap of $95.96 billion, a price-to-earnings ratio of 47.45, a P/E/G ratio of 1.17 and a beta of 1.50.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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 company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm posted $0.93 earnings per share. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, equities research analysts predict that Blackstone Inc. will post 4.58 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 issued a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.44%. Blackstone’s dividend payout ratio (DPR) is 115.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Bank of America lifted their price objective on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. TD Cowen raised their target price on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Barclays raised their price objective on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Morgan Stanley increased their target price on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $128.65.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone 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 sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’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 owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. 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.