Mattern Wealth Management LLC Has $331,000 Stock Holdings in Blackstone Inc. $BX

Mattern Wealth Management LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,213 shares of the asset manager’s stock after acquiring an additional 60 shares during the period. Mattern Wealth Management LLC’s holdings in Blackstone were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BX. 1248 Management LLC acquired a new stake in Blackstone in the first quarter valued at approximately $25,000. von Borstel & Associates Inc. acquired a new stake in Blackstone in the first quarter valued at approximately $28,000. Wealth Preservation Advisors LLC acquired a new stake in Blackstone in the first quarter valued at approximately $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone in the first quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Blackstone during the second quarter valued at $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the stock in a transaction on Monday, September 22nd. The shares were acquired at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction dated 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 completion of the sale, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.4%

Shares of NYSE BX opened at $175.99 on Tuesday. The stock has a market capitalization of $129.72 billion, a P/E ratio of 47.31, a P/E/G ratio of 1.42 and a beta of 1.77. The company has a 50-day moving average price of $174.28 and a 200-day moving average price of $153.26. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business’s revenue was up 32.7% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend 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 is presently 110.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BX shares. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Blackstone in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Barclays lifted their target price on shares of Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Citigroup reissued a “market perform” rating on shares of Blackstone in a research note on Saturday, July 19th. Finally, Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.71.

About Blackstone

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.