Beaumont Asset Management L.L.C. Purchases 84 Shares of Blackstone Inc. (NYSE:BX)

Beaumont Asset Management L.L.C. grew its position in shares of Blackstone Inc. (NYSE:BX) by 1.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,672 shares of the asset manager’s stock after buying an additional 84 shares during the period. Beaumont Asset Management L.L.C.’s holdings in Blackstone were worth $826,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after purchasing an additional 1,290,324 shares during the last quarter. Capital World Investors raised its stake in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares during the period. Brown Advisory Inc. grew its position in shares of Blackstone by 5.3% during the 4th quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock valued at $841,783,000 after acquiring an additional 322,860 shares during the period. Norges Bank purchased a new position in Blackstone in the fourth quarter valued at approximately $708,859,000. Finally, Janus Henderson Group PLC increased its position in Blackstone by 0.5% in the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after buying an additional 21,450 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.4 %

Shares of BX traded up $0.57 during mid-day trading on Thursday, reaching $138.42. The company’s stock had a trading volume of 664,245 shares, compared to its average volume of 3,463,695. The stock has a market cap of $98.92 billion, a PE ratio of 48.72, a P/E/G ratio of 1.22 and a beta of 1.50. The company’s fifty day moving average price is $133.67 and its two-hundred day moving average price is $127.53. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $145.16. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. On average, analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent research reports. Barclays upped their price objective on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Morgan Stanley increased their target price on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Piper Sandler increased their price target on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $128.94.

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.