Jmac Enterprises LLC Raises Stock Holdings in Blackstone Inc. $BX

Jmac Enterprises LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 33.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,000 shares of the asset manager’s stock after buying an additional 2,000 shares during the period. Jmac Enterprises LLC’s holdings in Blackstone were worth $1,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Lecap Asset Management Ltd. raised its holdings in Blackstone by 274.0% during the 2nd quarter. Lecap Asset Management Ltd. now owns 17,888 shares of the asset manager’s stock valued at $2,676,000 after buying an additional 13,105 shares during the period. Kennebec Savings Bank purchased a new stake in Blackstone during the 2nd quarter valued at $729,000. ASR Vermogensbeheer N.V. raised its holdings in Blackstone by 39.3% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 56,183 shares of the asset manager’s stock valued at $8,404,000 after buying an additional 15,860 shares during the period. Naples Global Advisors LLC increased its stake in Blackstone by 4.6% in the second quarter. Naples Global Advisors LLC now owns 44,000 shares of the asset manager’s stock worth $6,582,000 after purchasing an additional 1,915 shares during the period. Finally, Pure Financial Advisors LLC purchased a new stake in Blackstone in the second quarter worth $657,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $166.72 on Friday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The stock’s 50-day moving average is $174.00 and its 200 day moving average is $153.61. The company has a market cap of $122.89 billion, a P/E ratio of 44.82, a PEG ratio of 1.36 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. Blackstone’s dividend payout ratio is 110.75%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Wells Fargo & Company increased their target price on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Blackstone in a research note on Friday, July 25th. Keefe, Bruyette & Woods increased their target price on Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Finally, Barclays increased their price target on Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus target price of $172.71.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is owned by company 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.