Larson Financial Group LLC Has $420,000 Stock Position in Blackstone Inc. (NYSE:BX)

Larson Financial Group LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 18.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,394 shares of the asset manager’s stock after purchasing an additional 532 shares during the period. Larson Financial Group LLC’s holdings in Blackstone were worth $420,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Blackstone during the 4th quarter valued at about $708,859,000. Capital World Investors lifted its stake in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after buying an additional 2,546,886 shares during the last quarter. Lone Pine Capital LLC acquired a new position in Blackstone in the 4th quarter valued at $290,514,000. Lazard Asset Management LLC lifted its position in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after acquiring an additional 1,873,573 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity

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

Blackstone Trading Up 0.3 %

BX stock opened at $138.29 on Friday. The business has a fifty day moving average price of $133.95 and a 200 day moving average price of $127.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $98.82 billion, a price-to-earnings ratio of 48.86, a P/E/G ratio of 1.22 and a beta of 1.50. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $145.16.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $0.93 EPS. The firm’s revenue was up 166.9% compared to the same quarter last year. Analysts expect that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.37%. Blackstone’s dividend payout ratio (DPR) is currently 115.90%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Redburn Atlantic assumed coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Bank of America upped their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. TD Cowen boosted their price objective on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Piper Sandler lifted their target price on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Morgan Stanley raised their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $128.94.

Blackstone Profile

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.