Moore Capital Management LP Acquires Shares of 30,839 Blackstone Inc. $BX

Moore Capital Management LP bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 30,839 shares of the asset manager’s stock, valued at approximately $3,629,000.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Blackstone during the second quarter worth $6,112,162,000. Bank of America Corp DE purchased a new stake in shares of Blackstone during the second quarter worth about $1,364,373,000. Norges Bank acquired a new position in shares of Blackstone during the 4th quarter worth about $1,275,747,000. Legal & General Group Plc acquired a new stake in Blackstone in the 2nd quarter worth about $605,267,000. Finally, Bank of New York Mellon Corp purchased a new stake in Blackstone during the 2nd quarter worth approximately $514,736,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.7%

Shares of NYSE BX opened at $143.32 on Tuesday. The company has a market capitalization of $107.58 billion, a P/E ratio of 32.06, a P/E/G ratio of 1.55 and a beta of 1.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The company has a 50 day simple moving average of $131.06 and a 200-day simple moving average of $122.93. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities research analysts predict that Blackstone Inc. will post 5.99 earnings per share 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 issued a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. This represents a $5.16 annualized dividend and a yield of 3.6%. Blackstone’s payout ratio is presently 115.44%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BX shares. Barclays lifted their price target on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. TD Cowen lifted their target price on shares of Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Argus raised their price target on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, BNP Paribas Exane decreased their target price on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 45,000 shares of Blackstone stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total value of $6,619,950.00. Following the completion of the sale, the insider owned 516,017 shares in the company, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease 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 bought 765,111 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the acquisition, the insider directly owned 7,882,145 shares in the company, valued at $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 1,611,822 shares of company stock valued at $42,189,294 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is owned by corporate insiders.

Blackstone Company Profile

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.