Pallas Capital Advisors LLC Has $406,000 Stake in Blackstone Inc. (NYSE:BX)

Pallas Capital Advisors LLC cut its stake in Blackstone Inc. (NYSE:BX) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,980 shares of the asset manager’s stock after selling 184 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Blackstone were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BX. Norges Bank acquired a new position in shares of Blackstone during the 4th quarter worth approximately $708,859,000. Capital World Investors increased its stake in 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 acquiring an additional 2,546,886 shares during the period. Lone Pine Capital LLC bought a new stake in shares of Blackstone during the 4th quarter valued at $290,514,000. Lazard Asset Management LLC increased its position in shares of Blackstone by 19,048.1% in the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after purchasing an additional 1,873,573 shares during the period. Finally, Vanguard Group Inc. grew its stake 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 buying an additional 1,290,324 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BX shares. Argus upped their price target on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley upped their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Barclays upped their price objective on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. 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 report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $128.65.

Blackstone Stock Down 0.0 %

Shares of NYSE BX traded down $0.02 during trading on Wednesday, hitting $132.96. The stock had a trading volume of 343,316 shares, compared to its average volume of 3,496,703. The company has a market capitalization of $95.02 billion, a PE ratio of 46.98, a PEG ratio of 1.17 and a beta of 1.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.79. The firm has a fifty day moving average of $130.14 and a two-hundred day moving average of $126.55. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $145.16.

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). The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. As a group, equities research analysts forecast that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Insider Buying and Selling

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

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.