7,175 Shares in Blackstone Inc. (NYSE:BX) Acquired by Westwood Wealth Management

Westwood Wealth Management purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,175 shares of the asset manager’s stock, valued at approximately $888,000. Blackstone makes up approximately 0.3% of Westwood Wealth Management’s holdings, making the stock its 25th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after buying an additional 1,290,324 shares during the last quarter. Capital World Investors raised its position in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the last quarter. Wulff Hansen & CO. boosted its position in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after buying an additional 21,450 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new position in Blackstone during the 4th quarter worth approximately $290,514,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

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 transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 approximately $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BX shares. Piper Sandler lifted their price target on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. TD Cowen boosted their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Redburn Atlantic started coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $130.78.

Blackstone Stock Performance

NYSE BX opened at $157.21 on Tuesday. 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 fifty-two week low of $88.59 and a fifty-two week high of $161.25. The stock has a market cap of $112.35 billion, a PE ratio of 55.55, a PEG ratio of 1.23 and a beta of 1.51. The firm’s fifty day moving average price is $140.08 and its two-hundred day moving average price is $129.63.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend 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.