Valtrion Capital Management LLC Purchases New Stake in Blackstone Inc. $BX

Valtrion Capital Management LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,824 shares of the asset manager’s stock, valued at approximately $450,000.

A number of other hedge funds have also made changes to their positions in the stock. Strive Asset Management LLC acquired a new position in Blackstone in the 3rd quarter valued at approximately $30,000. Ares Financial Consulting LLC purchased a new position in shares of Blackstone during the 4th quarter valued at $28,000. Kelleher Financial Advisors purchased a new stake in shares of Blackstone during the third quarter worth $34,000. Palladiem LLC acquired a new stake in Blackstone during the fourth quarter valued at $31,000. Finally, Entrust Financial LLC acquired a new position in Blackstone in the 4th quarter worth about $32,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

Shares of Blackstone stock opened at $143.34 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $129.51 and a 200-day simple moving average of $122.57. The stock has a market capitalization of $107.60 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 1.57 and a beta of 1.56. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s quarterly revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts expect that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio is currently 115.44%.

Insider Buying and Selling

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the acquisition, the insider directly owned 7,882,145 shares in the company, valued at $206,039,270.30. This represents a 10.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the completion of the sale, the insider owned 869,669 shares in the company, valued at approximately $117,883,632.95. The trade was a 3.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen boosted their price target on Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Argus boosted their target price on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Oppenheimer upped their price objective on shares of Blackstone from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Jefferies Financial Group raised their target price on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

About Blackstone

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.