Capital Advisors Inc. OK Purchases 87,885 Shares of Blackstone Inc. $BX

Capital Advisors Inc. OK lifted its position in shares of Blackstone Inc. (NYSE:BX) by 35.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 337,510 shares of the asset manager’s stock after purchasing an additional 87,885 shares during the quarter. Capital Advisors Inc. OK’s holdings in Blackstone were worth $39,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bell Investment Advisors Inc purchased a new stake in shares of Blackstone in the 2nd quarter worth about $30,000. Addison Advisors LLC purchased a new position in Blackstone during the 2nd quarter valued at about $30,000. Strive Asset Management LLC bought a new stake in Blackstone during the third quarter worth about $30,000. Palladiem LLC bought a new position in shares of Blackstone during the fourth quarter valued at approximately $31,000. Finally, West Branch Capital LLC lifted its holdings in shares of Blackstone by 26,600.0% during the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider Vikrant Sawhney sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total value of $4,066,500.00. Following the sale, the insider owned 869,669 shares in the company, valued at approximately $117,883,632.95. This trade represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 45,000 shares of Blackstone stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the completion of the sale, the insider directly owned 516,017 shares of the company’s stock, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 1,611,822 shares of company stock valued at $42,189,294 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 0.7%

BX stock opened at $142.63 on Friday. The stock has a market capitalization of $107.06 billion, a P/E ratio of 31.91, a P/E/G ratio of 1.55 and a beta of 1.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The business has a fifty day moving average price of $130.65 and a 200-day moving average price of $122.92.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the firm posted $0.98 earnings per share. Blackstone’s revenue was up 35.9% compared to the same quarter last year. Equities analysts forecast that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 3rd. Blackstone’s dividend payout ratio (DPR) is presently 115.44%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BX shares. Royal Bank Of Canada raised their price objective on Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Sanford C. Bernstein began coverage on Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating on the stock. BNP Paribas Exane lowered their price target on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research report on Monday, June 8th. They set a “buy” rating on the stock. Finally, HSBC reaffirmed a “hold” rating and issued a $135.00 target price on shares of Blackstone in a report on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and an average target price of $149.43.

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.