MGO One Seven LLC Purchases 1,066 Shares of Blackstone Inc. (NYSE:BX)

MGO One Seven LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,369 shares of the asset manager’s stock after acquiring an additional 1,066 shares during the period. MGO One Seven LLC’s holdings in Blackstone were worth $2,893,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Blackstone during the 4th quarter valued at approximately $708,859,000. Capital World Investors increased its position in 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 purchased a new position in shares of Blackstone during the 4th quarter valued at $290,514,000. Lazard Asset Management LLC increased its holdings in Blackstone by 19,048.1% in 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. raised its stake in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after acquiring an additional 1,290,324 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of Blackstone 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 transaction, the insider now directly 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 can be accessed through this link. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on 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 owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several research reports. Piper Sandler boosted their price target on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Bank of America increased their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Barclays upped their price target on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Finally, TD Cowen boosted their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.94.

Blackstone Stock Performance

Shares of NYSE BX opened at $143.27 on Thursday. The stock has a market cap of $103.17 billion, a price-to-earnings ratio of 50.63, a P/E/G ratio of 1.18 and a beta of 1.51. The stock’s 50-day moving average is $135.35 and its 200 day moving average is $128.00. 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 1-year low of $88.59 and a 1-year high of $145.16.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. On average, sell-side analysts anticipate 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. Investors of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.29%. Blackstone’s payout ratio is 115.90%.

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.