Blackstone Inc. $BX Shares Bought by Kercheville Advisors LLC

Kercheville Advisors LLC grew its stake in Blackstone Inc. (NYSE:BX) by 37.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 37,810 shares of the asset manager’s stock after buying an additional 10,350 shares during the quarter. Blackstone accounts for approximately 1.2% of Kercheville Advisors LLC’s portfolio, making the stock its 26th biggest position. Kercheville Advisors LLC’s holdings in Blackstone were worth $4,238,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wellington Altus USA Inc. acquired a new stake in Blackstone in the second quarter valued at approximately $26,000. Addison Advisors LLC acquired a new position in Blackstone during the 2nd quarter worth approximately $30,000. NBH Bank purchased a new stake in shares of Blackstone in the 2nd quarter valued at approximately $30,000. Bell Investment Advisors Inc purchased a new stake in shares of Blackstone in the 2nd quarter valued at approximately $30,000. Finally, West Branch Capital LLC lifted its position in shares of Blackstone by 26,600.0% during the 2nd quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after purchasing an additional 266 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

NYSE BX traded up $0.50 during trading hours on Monday, hitting $107.11. The company had a trading volume of 4,029,420 shares, compared to its average volume of 6,072,695. The business has a 50 day moving average of $127.52 and a 200-day moving average of $124.17. The company has a market cap of $80.40 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.28 and a beta of 1.59. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $165.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72.

Blackstone (NYSE:BX) last posted 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 business had revenue of $5.04 billion during 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%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities research analysts expect that Blackstone Inc. will post 5.91 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 4.8%. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone’s dividend payout ratio is presently 115.44%.

Insider Buying and Selling

In other news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $16.40, for a total value of $2,043,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Payne sold 9,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer owned 64,448 shares of the company’s stock, valued at approximately $9,359,783.04. This trade represents a 12.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have bought 1,038,406 shares of company stock valued at $27,205,951 and have sold 4,077,276 shares valued at $37,573,644. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BX. Oppenheimer boosted their target price on shares of Blackstone from $140.00 to $171.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. The Goldman Sachs Group lifted their price target on Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods raised Blackstone to a “hold” rating in a research report on Monday, July 20th. Citizens Jmp decreased their target price on Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Finally, Argus upped their price target on Blackstone from $146.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.45.

Blackstone Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.