Blackstone Inc. $BX Stock Holdings Lifted by BigSur Wealth Management LLC

BigSur Wealth Management LLC increased its stake in Blackstone Inc. (NYSE:BX) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,076 shares of the asset manager’s stock after acquiring an additional 680 shares during the quarter. Blackstone makes up about 2.6% of BigSur Wealth Management LLC’s portfolio, making the stock its 7th biggest holding. BigSur Wealth Management LLC’s holdings in Blackstone were worth $10,332,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Illinois Municipal Retirement Fund raised its holdings in shares of Blackstone by 105.4% during the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after acquiring an additional 6,878 shares during the last quarter. Parallel Advisors LLC raised its stake in Blackstone by 6.6% in the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock valued at $4,363,000 after purchasing an additional 1,943 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in Blackstone during the 2nd quarter worth $273,000. Sandy Cove Advisors LLC raised its position in shares of Blackstone by 22.1% in the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after buying an additional 2,182 shares during the last quarter. Finally, Narwhal Capital Management boosted its position in Blackstone by 34.3% during the first quarter. Narwhal Capital Management now owns 64,614 shares of the asset manager’s stock worth $9,032,000 after acquiring an additional 16,486 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup reissued a “market perform” rating on shares of Blackstone in a research note on Saturday, July 19th. JMP Securities lifted their price objective on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Barclays boosted their price target on shares of Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $172.38.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider owned 737,248 shares of the company’s stock, valued at $128,015,742.72. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,727,877 shares of company stock worth $95,046,625 and have sold 16,871,634 shares worth $135,328,376. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 3.6%

Blackstone stock opened at $178.21 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a 50 day moving average price of $173.90 and a 200 day moving average price of $152.30. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a market capitalization of $131.36 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.77.

Blackstone (NYSE:BX) last posted its earnings results 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. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. Research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is 110.75%.

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.