Hantz Financial Services Inc. Invests $37,000 in Blackstone Inc. (NYSE:BX)

Hantz Financial Services Inc. purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 297 shares of the asset manager’s stock, valued at approximately $37,000.

Other large investors also recently modified their holdings of the company. TFB Advisors LLC boosted its position in Blackstone by 27.6% during the second quarter. TFB Advisors LLC now owns 5,499 shares of the asset manager’s stock valued at $681,000 after purchasing an additional 1,190 shares during the last quarter. WBI Investments LLC boosted its holdings in shares of Blackstone by 171.2% in the 2nd quarter. WBI Investments LLC now owns 28,044 shares of the asset manager’s stock valued at $3,472,000 after buying an additional 17,703 shares during the last quarter. Forum Financial Management LP increased its holdings in Blackstone by 1.3% during the second quarter. Forum Financial Management LP now owns 8,290 shares of the asset manager’s stock worth $1,026,000 after buying an additional 107 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Blackstone by 7.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 73,799 shares of the asset manager’s stock valued at $9,136,000 after acquiring an additional 4,987 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Blackstone by 0.6% during the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 80 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BX. Redburn Atlantic assumed coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. TD Cowen raised their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley lifted their target price on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Bank of America raised their price objective on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $128.94.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the transaction, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $142.36 on Tuesday. The firm has a 50 day moving average of $133.12 and a 200-day moving average of $127.38. The stock has a market capitalization of $102.51 billion, a PE ratio of 50.30, a PEG ratio of 1.22 and a beta of 1.50. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $145.16.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, equities research analysts predict that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.30%. Blackstone’s payout ratio is currently 115.90%.

About Blackstone

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.