Blackstone Inc. (NYSE:BX) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its position in Blackstone Inc. (NYSE:BX) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,812 shares of the asset manager’s stock after purchasing an additional 940 shares during the period. D.A. Davidson & CO.’s holdings in Blackstone were worth $23,004,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new stake in Blackstone in the fourth quarter worth approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Blackstone in the first quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone in the second quarter valued at $27,000. Finally, Advantage Trust Co bought a new position in shares of Blackstone in the fourth quarter valued at $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 1.3 %

NYSE BX traded up $1.78 during mid-day trading on Friday, reaching $142.36. 3,421,587 shares of the stock were exchanged, compared to its average volume of 3,139,617. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $102.51 billion, a P/E ratio of 50.30, a P/E/G ratio of 1.22 and a beta of 1.50. The stock has a 50 day simple moving average of $132.78 and a 200-day simple moving average of $127.30. Blackstone Inc. has a one year low of $88.59 and a one year high of $145.16.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue was up 166.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. On average, analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.30%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler upped their price target on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. TD Cowen boosted their target price 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. Bank of America boosted their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Barclays boosted their target price on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Morgan Stanley upped their price target on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $128.94.

Insider Transactions at Blackstone

In related news, 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 transaction of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone 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 sale, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. 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.