Blackstone Inc. $BX Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its position in Blackstone Inc. (NYSE:BX) by 4.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,487 shares of the asset manager’s stock after purchasing an additional 437 shares during the period. Jacobi Capital Management LLC’s holdings in Blackstone were worth $1,326,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ascent Group LLC grew its holdings in Blackstone by 0.9% in the fourth quarter. Ascent Group LLC now owns 8,522 shares of the asset manager’s stock valued at $1,469,000 after purchasing an additional 74 shares during the last quarter. McAdam LLC grew its holdings in Blackstone by 4.4% in the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 75 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock valued at $1,652,000 after purchasing an additional 76 shares during the last quarter. Nicolet Advisory Services LLC lifted its position in shares of Blackstone by 0.7% in the first quarter. Nicolet Advisory Services LLC now owns 12,075 shares of the asset manager’s stock valued at $1,539,000 after acquiring an additional 78 shares in the last quarter. Finally, Tradition Wealth Management LLC lifted its position in shares of Blackstone by 0.9% in the first quarter. Tradition Wealth Management LLC now owns 9,044 shares of the asset manager’s stock valued at $1,264,000 after acquiring an additional 78 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $183.91 on Friday. The company has a market capitalization of $135.56 billion, a PE ratio of 49.44, a price-to-earnings-growth ratio of 1.45 and a beta of 1.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $169.51 and its 200 day moving average price is $150.43. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, August 4th. Blackstone’s payout ratio is currently 110.75%.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the sale, the insider directly owned 737,248 shares in the company, valued at $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,189,806 shares of company stock valued at $30,046,627 and sold 16,871,634 shares valued at $135,328,376. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BX shares. Piper Sandler upped their price objective on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. JMP Securities upped their price objective on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research report on Friday, July 25th. Evercore ISI upped their price objective on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $170.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $172.38.

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.