4,639 Shares in Blackstone Inc. $BX Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc bought a new stake in Blackstone Inc. (NYSE:BX) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 4,639 shares of the asset manager’s stock, valued at approximately $546,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in Blackstone during the 4th quarter valued at $28,000. Bell Investment Advisors Inc bought a new stake in shares of Blackstone during the second quarter worth about $30,000. Strive Asset Management LLC acquired a new stake in shares of Blackstone in the 3rd quarter worth about $30,000. Palladiem LLC acquired a new position in Blackstone during the 4th quarter valued at about $31,000. Finally, West Branch Capital LLC increased its holdings in Blackstone by 26,600.0% during the 2nd quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after purchasing an additional 266 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Rothschild & Co Redburn cut their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Blackstone in a report on Monday, June 8th. They set a “buy” rating on the stock. Weiss Ratings upgraded shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 24th. Jefferies Financial Group boosted their price target on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $147.95.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 371 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $137.17 per share, with a total value of $50,890.07. Following the completion of the transaction, the director directly owned 42,189 shares of the company’s stock, valued at $5,787,065.13. This represents a 0.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 573,614 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were purchased at an average cost of $26.15 per share, for a total transaction of $15,000,006.10. Following the transaction, the insider directly owned 8,455,758 shares in the company, valued at approximately $221,118,071.70. The trade was a 7.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 2.1%

Shares of NYSE:BX opened at $140.87 on Tuesday. The company has a market capitalization of $105.74 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The business has a fifty day moving average price of $127.05 and a two-hundred day moving average price of $122.45.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. Analysts forecast that Blackstone Inc. will post 6 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 115.44%.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.