Herold Advisors Inc. grew its position in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 6.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,868 shares of the asset manager’s stock after purchasing an additional 357 shares during the quarter. Herold Advisors Inc.’s holdings in Blackstone were worth $535,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Financial Advantage Inc. acquired a new stake in Blackstone in the 1st quarter valued at $26,000. Western Pacific Wealth Management LP purchased a new position in Blackstone during the 4th quarter worth $27,000. Landmark Wealth Management LLC purchased a new position in Blackstone during the 1st quarter worth $27,000. Providence Capital Advisors LLC boosted its holdings in Blackstone by 1,137.6% during the 1st quarter. Providence Capital Advisors LLC now owns 2,995 shares of the asset manager’s stock worth $31,000 after acquiring an additional 2,753 shares during the last quarter. Finally, Citizens National Bank Trust Department purchased a new position in shares of Blackstone in the 4th quarter worth about $39,000. Institutional investors own 61.87% of the company’s stock.
Insider Activity at Blackstone
In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 7,200 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $32.68, for a total value of $235,296.00. Following the completion of the transaction, the insider now directly owns 862,800 shares in the company, valued at approximately $28,196,304. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 7,200 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $32.68, for a total value of $235,296.00. Following the completion of the transaction, the insider now directly owns 862,800 shares in the company, valued at approximately $28,196,304. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 71,223 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $93.95, for a total value of $6,691,400.85. Following the sale, the director now owns 1,141,965 shares of the company’s stock, valued at $107,287,611.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,423 shares of company stock valued at $9,660,717. 1.00% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Blackstone Stock Down 2.2 %
NYSE BX traded down $1.90 during trading on Friday, reaching $83.50. 6,471,080 shares of the company’s stock were exchanged, compared to its average volume of 4,619,492. The stock has a market cap of $58.59 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50 day moving average price of $98.89 and a two-hundred day moving average price of $105.50. Blackstone Inc. has a 1 year low of $82.22 and a 1 year high of $149.78.
Blackstone (NYSE:BX – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The asset manager reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.02. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Blackstone had a return on equity of 20.80% and a net margin of 22.48%. The firm’s revenue for the quarter was up 96.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, equities research analysts anticipate that Blackstone Inc. will post 5.16 EPS for the current fiscal year.
Blackstone Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, August 1st were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 6.08%. The ex-dividend date of this dividend was Friday, July 29th. Blackstone’s dividend payout ratio (DPR) is 92.70%.
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.
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