Wilmington Savings Fund Society FSB Has $3.54 Million Stock Holdings in Blackstone Inc. $BX

Wilmington Savings Fund Society FSB decreased its stake in Blackstone Inc. (NYSE:BX) by 25.8% in the second quarter, HoldingsChannel reports. The firm owned 23,693 shares of the asset manager’s stock after selling 8,241 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Blackstone were worth $3,544,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its position in Blackstone by 105.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock worth $1,874,000 after purchasing an additional 6,878 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Blackstone during the second quarter valued at $273,000. Sandy Cove Advisors LLC lifted its stake in Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after acquiring an additional 2,182 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in Blackstone during the 2nd quarter valued at about $423,000. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Blackstone by 14.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after purchasing an additional 1,863 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Blackstone 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 shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the transaction, the insider directly owned 4,178,771 shares of the company’s stock, valued at $105,388,604.62. The trade was a 39.79% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

BX has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Evercore ISI increased their price objective on Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. The Goldman Sachs Group boosted their target price on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. JMP Securities lifted their price target on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a report on Friday, July 25th. Finally, Barclays dropped their price objective on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $180.33.

Blackstone Price Performance

NYSE BX opened at $164.04 on Wednesday. The company has a market cap of $120.91 billion, a P/E ratio of 44.10, a P/E/G ratio of 1.29 and a beta of 1.77. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $172.22 and a 200 day simple moving average of $154.49.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a $1.03 dividend. The ex-dividend date was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. Blackstone’s dividend payout ratio is 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.