Richard P Slaughter Associates Inc Has $1.52 Million Holdings in Blackstone Inc. (NYSE:BX)

Richard P Slaughter Associates Inc lifted its position in shares of Blackstone Inc. (NYSE:BX) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,330 shares of the asset manager’s stock after purchasing an additional 211 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in Blackstone were worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Tower Bridge Advisors boosted its stake in Blackstone by 12.0% in the 1st quarter. Tower Bridge Advisors now owns 17,324 shares of the asset manager’s stock valued at $1,522,000 after buying an additional 1,850 shares in the last quarter. Advisor OS LLC boosted its stake in Blackstone by 7.0% in the 1st quarter. Advisor OS LLC now owns 8,666 shares of the asset manager’s stock valued at $761,000 after buying an additional 568 shares in the last quarter. Altfest L J & Co. Inc. acquired a new stake in Blackstone in the 1st quarter valued at $240,000. Northside Capital Management LLC bought a new position in Blackstone in the 1st quarter valued at $202,000. Finally, O ROURKE & COMPANY Inc raised its position in Blackstone by 0.9% in the 1st quarter. O ROURKE & COMPANY Inc now owns 61,725 shares of the asset manager’s stock valued at $5,422,000 after purchasing an additional 569 shares during the last quarter. Institutional investors and hedge funds own 63.35% of the company’s stock.

Blackstone Stock Down 0.0 %

BX stock opened at $112.71 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $80.00 billion, a PE ratio of 68.32, a PEG ratio of 2.05 and a beta of 1.49. Blackstone Inc. has a 1-year low of $71.72 and a 1-year high of $114.96. The business’s 50 day simple moving average is $103.35 and its 200 day simple moving average is $92.52.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 20th. The asset manager reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.43 billion. Blackstone had a return on equity of 16.99% and a net margin of 17.92%. The firm’s revenue was up 347.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 EPS. As a group, research analysts anticipate that Blackstone Inc. will post 4.16 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Friday, July 28th. Blackstone’s payout ratio is presently 191.52%.

Insider Activity at Blackstone

In related news, Director William G. Parrett sold 3,874 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $112.47, for a total value of $435,708.78. Following the completion of the sale, the director now directly owns 30,941 shares in the company, valued at approximately $3,479,934.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director William G. Parrett sold 3,874 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $112.47, for a total transaction of $435,708.78. Following the completion of the sale, the director now directly owns 30,941 shares in the company, valued at approximately $3,479,934.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 85,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $93.08, for a total value of $7,911,800.00. Following the sale, the director now owns 1,060,448 shares of the company’s stock, valued at $98,706,499.84. The disclosure for this sale can be found here. Insiders sold 17,402,086 shares of company stock worth $198,963,771 in the last ninety days. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BX. BMO Capital Markets lifted their price objective on Blackstone from $93.00 to $97.00 and gave the company a “market perform” rating in a research report on Friday, July 21st. Wells Fargo & Company upped their price target on Blackstone from $104.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. TheStreet raised Blackstone from a “c+” rating to a “b” rating in a research note on Thursday, July 20th. StockNews.com began coverage on Blackstone in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Piper Sandler raised their price target on Blackstone from $107.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.97.

Blackstone 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.