Blackstone Inc. (NYSE:BX) Stake Raised by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 77.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,836 shares of the asset manager’s stock after purchasing an additional 802 shares during the period. Eagle Bay Advisors LLC’s holdings in Blackstone were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Northwest Financial Advisors acquired a new stake in shares of Blackstone in the fourth quarter worth $25,000. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the second quarter worth $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft raised 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. TD Cowen increased their price objective on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday. They set a “neutral” rating and a $134.00 target price on the stock. Barclays boosted their price objective on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Finally, Morgan Stanley lifted their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $128.94.

Blackstone Stock Down 0.5 %

Shares of Blackstone stock traded down $0.71 during trading hours on Tuesday, reaching $141.25. 3,868,929 shares of the company’s stock were exchanged, compared to its average volume of 3,508,603. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $145.16. The company has a current ratio of 0.77, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $131.38 and a two-hundred day moving average of $126.92. The stock has a market cap of $100.94 billion, a P/E ratio of 49.91, a P/E/G ratio of 1.17 and a beta of 1.50.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion for 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 revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 EPS. On average, sell-side analysts forecast that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio is 115.90%.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 transaction, the director now owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s 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 transaction, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was 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 disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.