Prescott Group Capital Management L.L.C. Grows Position in Blackstone Inc. $BX

Prescott Group Capital Management L.L.C. raised its position in shares of Blackstone Inc. (NYSE:BX) by 51.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,940 shares of the asset manager’s stock after acquiring an additional 1,002 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Blackstone were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new position in shares of Blackstone in the 1st quarter worth $25,000. Family CFO Inc bought a new position in Blackstone during the 2nd quarter valued at about $28,000. Wealth Preservation Advisors LLC bought a new stake in Blackstone in the first quarter worth about $28,000. Anderson Financial Strategies LLC purchased a new position in shares of Blackstone during the first quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Blackstone in the second quarter worth approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, Director James Breyer bought 13,900 shares of Blackstone stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the acquisition, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the stock in a transaction on Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the acquisition, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. The trade was a 51.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 2,565,415 shares of company stock valued at $69,037,981 and have sold 16,875,234 shares valued at $136,847,628. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Bank of America cut their price target on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. The Goldman Sachs Group increased their price objective on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft set a $166.00 target price on Blackstone and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Morgan Stanley raised their price target on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.74.

Blackstone Stock Performance

Shares of BX stock opened at $146.00 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The business has a fifty day moving average of $165.79 and a 200 day moving average of $157.40. The firm has a market capitalization of $107.61 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The business had revenue of $2.49 billion for the quarter. As a group, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

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.