Thoroughbred Financial Services LLC Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Thoroughbred Financial Services LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 34.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,314 shares of the asset manager’s stock after buying an additional 3,702 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Blackstone were worth $1,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone in the second quarter valued at about $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the 2nd quarter worth approximately $27,000. Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC bought a new position in Blackstone during the second quarter worth $31,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

BX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley upped their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Bank of America boosted their price objective on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Redburn Atlantic initiated coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $130.78.

Blackstone Stock Performance

Shares of NYSE BX opened at $151.19 on Friday. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $151.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a fifty day moving average price of $136.38 and a two-hundred day moving average price of $128.32. The firm has a market cap of $108.87 billion, a P/E ratio of 53.42, a PEG ratio of 1.23 and a beta of 1.51.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.17%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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.