Waterloo Capital L.P. Boosts Holdings in Blackstone Inc. (NYSE:BX)

Waterloo Capital L.P. lifted its stake in Blackstone Inc. (NYSE:BX) by 0.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,317 shares of the asset manager’s stock after buying an additional 123 shares during the quarter. Waterloo Capital L.P.’s holdings in Blackstone were worth $4,744,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Blackstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after acquiring an additional 1,290,324 shares during the last quarter. Capital World Investors lifted its position in Blackstone by 7.5% during 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 purchasing an additional 2,546,886 shares during the last quarter. Wulff Hansen & CO. increased its holdings in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Blackstone by 0.5% in 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 acquiring an additional 21,450 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new stake in Blackstone during the fourth quarter worth approximately $290,514,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler lifted their target price on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. TD Cowen upped their price target on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company started coverage on Blackstone in a research report on Thursday, September 12th. They set an “overweight” rating and a $163.00 target price for the company. Finally, Barclays raised their price target on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $130.78.

Insider Transactions at Blackstone

In related 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 transaction, the director now directly owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 completion of the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $155.07 on Wednesday. The company’s 50 day moving average is $137.73 and its 200 day moving average is $128.72. 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 firm has a market cap of $110.82 billion, a price-to-earnings ratio of 54.80, a PEG ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $156.46.

Blackstone (NYSE:BX) last issued 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). 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 company’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. On average, sell-side analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current fiscal 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. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.12%. Blackstone’s dividend payout ratio (DPR) is 115.90%.

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.