Catalina Capital Group LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,738 shares of the asset manager’s stock, valued at approximately $215,000.
Other institutional investors have also recently made changes to their positions in the company. Northwest Financial Advisors purchased a new stake in Blackstone during the 4th quarter worth about $25,000. Chilton Capital Management LLC purchased a new position in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Blackstone during the second quarter worth approximately $26,000. Bank & Trust Co acquired a new stake in Blackstone during the second quarter worth approximately $29,000. Finally, Advantage Trust Co acquired a new stake in Blackstone during the 4th quarter worth $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.
Insider Activity
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 transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Blackstone Price Performance
Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. On average, equities analysts expect that Blackstone Inc. will post 4.58 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s payout ratio is 115.90%.
Wall Street Analyst Weigh In
BX has been the subject of a number of research analyst reports. Barclays upped their target price on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Morgan Stanley raised their price objective on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Piper Sandler increased their target price on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. TD Cowen upped their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Bank of America boosted their target price on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $128.65.
Get Our Latest Stock Report on BX
About Blackstone
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.
Further Reading
- Five stocks we like better than Blackstone
- Dividend Payout Ratio Calculator
- CAVA Stock Rallies as Earnings Confirm It’s a Top Growth Play
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- 3 High Short-Interest Stocks Poised for a Rate Cut Squeeze
- Financial Services Stocks Investing
- MarketBeat Week in Review – 8/19 – 8/23
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.