42,105 Shares in Blackstone Inc. $BX Acquired by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC bought a new position in Blackstone Inc. (NYSE:BX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 42,105 shares of the asset manager’s stock, valued at approximately $4,954,000.

Several other institutional investors also recently modified their holdings of the business. Strive Asset Management LLC bought a new stake in Blackstone in the 3rd quarter worth about $30,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $28,000. Kelleher Financial Advisors bought a new stake in shares of Blackstone in the third quarter worth approximately $34,000. Palladiem LLC purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $31,000. Finally, Entrust Financial LLC purchased a new stake in Blackstone in the fourth quarter worth approximately $32,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised Blackstone to a “hold” rating in a report on Monday, July 20th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Argus raised their target price on Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group upped their price target on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average target price of $147.95.

Insider Activity at Blackstone

In other Blackstone news, CAO David Payne sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the sale, the chief accounting officer owned 64,448 shares in the company, valued at approximately $9,359,783.04. This trade represents a 12.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the completion of the transaction, the insider owned 869,669 shares of the company’s stock, valued at approximately $117,883,632.95. The trade was a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by insiders.

Blackstone Trading Up 1.6%

NYSE:BX opened at $143.56 on Friday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The business has a fifty day moving average price of $128.82 and a 200-day moving average price of $122.57. The firm has a market capitalization of $107.76 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.99 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. Blackstone’s dividend payout ratio is presently 115.44%.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.