Thurston Springer Miller Herd & Titak Inc. lowered its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 15.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 487 shares of the asset manager’s stock after selling 86 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Blackstone were worth $73,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Illinois Municipal Retirement Fund raised its stake in shares of Blackstone by 105.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock worth $1,874,000 after buying an additional 6,878 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Blackstone by 6.6% during the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock worth $4,363,000 after buying an additional 1,943 shares during the last quarter. Comprehensive Money Management Services LLC acquired a new position in shares of Blackstone during the 4th quarter worth $1,747,000. Narwhal Capital Management raised its stake in shares of Blackstone by 34.3% during the 1st quarter. Narwhal Capital Management now owns 64,614 shares of the asset manager’s stock worth $9,032,000 after buying an additional 16,486 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in shares of Blackstone by 14.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after buying an additional 1,863 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
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Insider Buying and Selling at Blackstone
In related news, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO David Payne sold 9,400 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $169.97, for a total value of $1,597,718.00. Following the sale, the chief accounting officer directly owned 54,488 shares in the company, valued at approximately $9,261,325.36. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,189,806 shares of company stock worth $30,046,627 and sold 16,871,634 shares worth $135,328,376. 1.00% of the stock is currently owned by insiders.
Blackstone Stock Up 0.0%
NYSE BX opened at $183.73 on Thursday. The business has a 50 day moving average price of $171.71 and a two-hundred day moving average price of $151.10. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a market cap of $135.43 billion, a PE ratio of 49.39, a P/E/G ratio of 1.49 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.
Blackstone (NYSE:BX – Get Free Report) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the company posted $0.98 EPS. Blackstone’s quarterly revenue was up 32.7% on a year-over-year basis. As a group, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is currently 110.75%.
Analyst Ratings Changes
BX has been the subject of several research reports. Piper Sandler lifted their price target on Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. The Goldman Sachs Group reissued a “neutral” rating on shares of Blackstone in a research note on Friday, July 25th. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Wells Fargo & Company upped their price objective on shares of Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Finally, Evercore ISI upped their price objective on shares of Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.38.
Check Out Our Latest Report on Blackstone
Blackstone Profile
(Free Report)
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.
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