Daymark Wealth Partners LLC Purchases 4,246 Shares of Blackstone Inc. (NYSE:BX)

Daymark Wealth Partners LLC boosted its holdings in Blackstone Inc. (NYSE:BX) by 29.6% during the second quarter, Holdings Channel.com reports. The fund owned 18,597 shares of the asset manager’s stock after buying an additional 4,246 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Blackstone were worth $2,302,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new stake in Blackstone during the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone during the 2nd quarter worth $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone during the 2nd quarter valued at about $27,000. Bank & Trust Co bought a new stake in Blackstone in the 2nd quarter worth approximately $29,000. Finally, Ridgewood Investments LLC bought a new position in Blackstone during the second quarter valued at approximately $31,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.5 %

Shares of NYSE:BX opened at $153.47 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The firm has a market capitalization of $109.68 billion, a P/E ratio of 54.23, a P/E/G ratio of 1.34 and a beta of 1.51. The stock has a 50 day moving average price of $140.85 and a 200-day moving average price of $130.02.

Blackstone (NYSE:BX) last announced its earnings results 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 net margin of 19.35% and a return on equity of 17.43%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm posted $0.93 EPS. The business’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, equities research 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. Stockholders of record on Monday, July 29th were given 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 2.14%. Blackstone’s dividend payout ratio is currently 115.90%.

Wall Street Analyst Weigh In

BX has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of Blackstone in a research note on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price objective for the company. Bank of America lifted 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. TD Cowen raised their price target on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Morgan Stanley increased their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $130.78.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the company’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 value of $14,323,104.00. Following the completion of 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 Company 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.