Rose Capital Advisors LLC Makes New $1.47 Million Investment in Blackstone Inc. $BX

Rose Capital Advisors LLC bought a new position in Blackstone Inc. (NYSE:BX) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 12,484 shares of the asset manager’s stock, valued at approximately $1,469,000.

A number of other institutional investors also recently bought and sold shares of BX. Bell Investment Advisors Inc bought a new position in Blackstone during the second quarter valued at $30,000. Addison Advisors LLC purchased a new position in shares of Blackstone during the 2nd quarter worth about $30,000. NBH Bank bought a new position in Blackstone during the 2nd quarter valued at about $30,000. Strive Asset Management LLC bought a new stake in Blackstone in the third quarter worth about $30,000. Finally, Palladiem LLC purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $31,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Down 1.2%

Shares of Blackstone stock opened at $136.07 on Friday. 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 stock has a market cap of $102.14 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.53 and a beta of 1.56. The firm’s 50-day moving average is $132.74 and its two-hundred day moving average is $123.14.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, research analysts expect 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 issued a $1.29 dividend. The ex-dividend date was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Insider Activity

In other news, Director Ruth Porat purchased 371 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $137.17 per share, for a total transaction of $50,890.07. Following the acquisition, the director owned 42,189 shares of the company’s stock, valued at approximately $5,787,065.13. This represents a 0.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Payne sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total value of $1,379,685.00. Following the completion of the sale, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at approximately $9,359,783.04. This represents a 12.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note 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. HSBC reissued a “hold” rating and set a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Finally, Rothschild & Co Redburn dropped their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Blackstone 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.