Blackstone Inc. (NYSE:BX) Shares Purchased by Telemus Capital LLC

Telemus Capital LLC raised its stake in Blackstone Inc. (NYSE:BXFree Report) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,408 shares of the asset manager’s stock after acquiring an additional 162 shares during the period. Telemus Capital LLC’s holdings in Blackstone were worth $9,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BX. Charles Schwab Investment Management Inc. raised its holdings in Blackstone by 498.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,290,886 shares of the asset manager’s stock worth $1,079,631,000 after purchasing an additional 10,238,110 shares in the last quarter. Norges Bank purchased a new position in Blackstone during the fourth quarter worth about $510,355,000. Moneta Group Investment Advisors LLC raised its holdings in Blackstone by 96,256.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,790,996 shares of the asset manager’s stock worth $429,634,000 after purchasing an additional 5,784,986 shares in the last quarter. BlackRock Inc. raised its holdings in Blackstone by 3.8% during the first quarter. BlackRock Inc. now owns 40,375,831 shares of the asset manager’s stock worth $3,546,613,000 after purchasing an additional 1,480,848 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Blackstone by 3.7% during the fourth quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock worth $1,668,954,000 after purchasing an additional 798,734 shares in the last quarter. Institutional investors and hedge funds own 63.35% of the company’s stock.

Insider Transactions at Blackstone

In related news, CAO David Payne sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $103.22, for a total transaction of $1,032,200.00. Following the completion of the sale, the chief accounting officer now directly owns 53,281 shares of the company’s stock, valued at $5,499,664.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO David Payne sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $103.22, for a total value of $1,032,200.00. Following the completion of the sale, the chief accounting officer now owns 53,281 shares in the company, valued at approximately $5,499,664.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $7.98, for a total transaction of $117,342,731.94. Following the completion of the sale, the insider now owns 43,602 shares of the company’s stock, valued at approximately $347,943.96. The disclosure for this sale can be found here. In the last three months, insiders sold 17,402,086 shares of company stock valued at $198,963,771. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BX shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $125.00 target price on shares of Blackstone in a report on Tuesday, September 5th. Barclays increased their price target on shares of Blackstone from $101.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, July 21st. StockNews.com started coverage on shares of Blackstone in a research report on Thursday, August 17th. They set a “hold” rating on the stock. BMO Capital Markets increased their price target on shares of Blackstone from $93.00 to $97.00 and gave the stock a “market perform” rating in a research note on Friday, July 21st. Finally, Evercore ISI increased their price target on shares of Blackstone from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average target price of $110.97.

View Our Latest Stock Report on BX

Blackstone Stock Performance

Shares of NYSE:BX traded up $1.08 during trading on Friday, reaching $113.79. 117,475,896 shares of the company’s stock traded hands, compared to its average volume of 5,169,057. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.92. Blackstone Inc. has a 12 month low of $71.72 and a 12 month high of $115.19. The company has a 50 day moving average of $103.35 and a 200-day moving average of $92.52. The stock has a market capitalization of $80.76 billion, a P/E ratio of 68.95, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49.

Blackstone (NYSE:BXGet Free Report) last posted its earnings results on Thursday, July 20th. The asset manager reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. Blackstone had a net margin of 17.92% and a return on equity of 16.99%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. Blackstone’s quarterly revenue was up 347.3% on a year-over-year basis. On average, equities analysts expect that Blackstone Inc. will post 4.16 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Friday, July 28th. Blackstone’s dividend payout ratio is currently 191.52%.

About Blackstone

(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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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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