Blackstone Inc. (NYSE:BX) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,646 shares of the asset manager’s stock after acquiring an additional 101 shares during the quarter. OLD National Bancorp IN’s holdings in Blackstone were worth $699,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Congress Wealth Management LLC DE raised its holdings in Blackstone by 36.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock worth $4,741,000 after purchasing an additional 9,699 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Blackstone by 8.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock valued at $48,158,000 after purchasing an additional 28,856 shares during the period. Stonegate Investment Group LLC increased its stake in shares of Blackstone by 0.8% during the 1st quarter. Stonegate Investment Group LLC now owns 20,165 shares of the asset manager’s stock valued at $2,649,000 after acquiring an additional 169 shares during the last quarter. TD Asset Management Inc increased its position in Blackstone by 8.9% during the fourth quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock worth $33,267,000 after purchasing an additional 20,830 shares during the last quarter. Finally, Norden Group LLC grew its stake in shares of Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BX. Piper Sandler boosted their price objective on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Barclays boosted 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. Argus lifted their price target on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TD Cowen increased their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Bank of America increased their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $127.56.

Blackstone Price Performance

Shares of NYSE:BX traded up $0.28 during trading on Friday, reaching $130.93. The company had a trading volume of 1,415,954 shares, compared to its average volume of 3,543,412. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $145.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The firm has a market capitalization of $93.57 billion, a PE ratio of 46.27, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The firm’s fifty day moving average is $128.11 and its 200 day moving average is $126.03.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the company earned $0.93 EPS. The company’s quarterly revenue was up 166.9% compared to the same quarter last year. On average, equities analysts forecast that Blackstone Inc. will post 4.58 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.51%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Insider Buying and Selling

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 Securities & Exchange Commission, which is available through the SEC website. In other news, insider John G. Finley sold 35,000 shares of the firm’s 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 sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.