Mattson Financial Services LLC Takes Position in Blackstone Inc. (NYSE:BX)

Mattson Financial Services LLC bought a new stake in Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,506 shares of the asset manager’s stock, valued at approximately $1,177,000.

Several other institutional investors have also recently made changes to their positions in the company. Moseley Investment Management Inc. lifted its stake in shares of Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after buying an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. grew its stake in Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after purchasing an additional 80 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Blackstone by 0.6% during the second 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 period. WR Wealth Planners LLC increased its holdings in Blackstone by 23.7% in the 2nd quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock worth $54,000 after buying an additional 84 shares during the period. Finally, Beaumont Asset Management L.L.C. raised its position in Blackstone by 1.3% during the 2nd quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after buying an additional 84 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America lifted their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Redburn Atlantic assumed coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Barclays boosted their price target on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Finally, Morgan Stanley lifted their target price on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $130.78.

Blackstone Trading Up 0.2 %

BX opened at $152.21 on Thursday. Blackstone Inc. has a one year low of $88.59 and a one year high of $161.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $108.78 billion, a PE ratio of 53.78, a P/E/G ratio of 1.34 and a beta of 1.51. The business’s 50 day moving average price is $142.21 and its 200 day moving average price is $131.01.

Blackstone (NYSE:BX) last released its quarterly earnings results 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). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm posted $0.93 earnings per share. Blackstone’s revenue was up 166.9% on a year-over-year basis. As a group, equities research analysts expect that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.15%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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 in the company, valued at $56,567,311.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.