Blackstone Inc. (NYSE:BX) Holdings Raised by Axa S.A.

Axa S.A. raised its position in shares of Blackstone Inc. (NYSE:BX) by 17.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,772 shares of the asset manager’s stock after buying an additional 5,214 shares during the quarter. Axa S.A.’s holdings in Blackstone were worth $4,305,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Chilton Capital Management LLC purchased a new position in Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new position in shares of Blackstone during the 2nd quarter valued at $27,000. Bank & Trust Co purchased a new stake in shares of Blackstone during the second quarter worth $29,000. Finally, Ridgewood Investments LLC purchased a new position in Blackstone in the second quarter valued at about $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 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 other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 sale, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 1.0 %

Shares of BX stock opened at $154.94 on Monday. The stock has a market cap of $110.73 billion, a P/E ratio of 54.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. 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 fifty day moving average price of $141.51 and a 200 day moving average price of $130.47. Blackstone Inc. has a one year low of $88.59 and a one year high of $161.25.

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). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $0.93 EPS. The business’s revenue was up 166.9% compared to the same quarter last year. Analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.12%. Blackstone’s payout ratio is presently 115.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays increased their price objective on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Bank of America upped their price objective on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Redburn Atlantic initiated coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Finally, Piper Sandler increased their price target on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $130.78.

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.