Blackstone Inc. $BX Shares Purchased by Kingstone Capital Partners Texas LLC

Kingstone Capital Partners Texas LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 519,669.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,132,441 shares of the asset manager’s stock after acquiring an additional 70,118,948 shares during the period. Blackstone accounts for 1.4% of Kingstone Capital Partners Texas LLC’s portfolio, making the stock its 25th largest position. Kingstone Capital Partners Texas LLC owned approximately 0.10% of Blackstone worth $10,490,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in Blackstone in the 1st quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in Blackstone in the first quarter worth approximately $28,000. Bernard Wealth Management Corp. acquired a new position in Blackstone in the fourth quarter worth approximately $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone in the 4th quarter worth $34,000. Finally, Anderson Financial Strategies LLC acquired a new stake in Blackstone during the 1st quarter worth about $28,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $25.22 per share, for a total transaction of $29,999,997.04. Following the completion of the acquisition, the insider directly owned 4,178,771 shares of the company’s stock, valued at approximately $105,388,604.62. This represents a 39.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,189,806 shares of company stock valued at $30,046,627 and have sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on BX. Citigroup reiterated a “market perform” rating on shares of Blackstone in a research report on Saturday, July 19th. Wells Fargo & Company lifted their price target on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. Barclays upped their price objective on shares of Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a research note on Friday, July 25th. Finally, Evercore ISI upped their price target on shares of Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and an average target price of $172.38.

Blackstone Trading Up 2.8%

Shares of NYSE:BX opened at $188.74 on Friday. The company has a market cap of $139.12 billion, a P/E ratio of 50.74, a P/E/G ratio of 1.49 and a beta of 1.77. The stock’s 50-day moving average is $172.20 and its 200-day moving average is $151.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company posted $0.98 earnings per share. Blackstone’s quarterly revenue was up 32.7% on a year-over-year basis. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.2%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

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.