ORG Partners LLC Buys 1,191 Shares of Blackstone Inc. (NYSE:BX)

ORG Partners LLC raised its stake in Blackstone Inc. (NYSE:BX) by 10,827.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,202 shares of the asset manager’s stock after purchasing an additional 1,191 shares during the quarter. ORG Partners LLC’s holdings in Blackstone were worth $147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Blackstone during the 4th quarter worth about $708,859,000. Capital World Investors increased its stake in Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after acquiring an additional 2,546,886 shares during the period. Lone Pine Capital LLC bought a new stake in shares of Blackstone during the 4th quarter worth approximately $290,514,000. Lazard Asset Management LLC raised its stake in Blackstone by 19,048.1% during the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after acquiring an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 purchasing an additional 1,290,324 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.3 %

NYSE:BX traded up $0.47 during trading hours on Thursday, reaching $136.63. The company had a trading volume of 769,763 shares, compared to its average volume of 3,517,209. The firm has a market cap of $97.64 billion, a price-to-earnings ratio of 48.13, a P/E/G ratio of 1.17 and a beta of 1.50. The business’s 50-day simple moving average is $128.89 and its two-hundred day simple moving average is $126.30. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $145.16.

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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The firm’s revenue was up 166.9% on a year-over-year basis. On average, equities analysts expect that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.40%. Blackstone’s payout ratio is 115.90%.

Wall Street Analyst Weigh In

BX has been the subject of several research analyst reports. Barclays upped their price target on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Morgan Stanley boosted their price target on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 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 report on Wednesday, April 24th. Finally, TD Cowen raised their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $127.56.

Insider Buying and Selling at Blackstone

In other Blackstone 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 value of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $113,305,632. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

About Blackstone

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.