Thompson Davis & CO. Inc. Makes New $232,000 Investment in Blackstone Inc. $BX

Thompson Davis & CO. Inc. purchased a new position in Blackstone Inc. (NYSE:BX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,550 shares of the asset manager’s stock, valued at approximately $232,000.

A number of other large investors have also recently bought and sold shares of BX. Arcus Capital Partners LLC lifted its holdings in shares of Blackstone by 1.2% during the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after acquiring an additional 58 shares during the period. Mattern Wealth Management LLC lifted its stake in Blackstone by 2.8% during the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Blackstone by 3.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 61 shares in the last quarter. Sage Rhino Capital LLC raised its holdings in shares of Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after buying an additional 63 shares in the last quarter. Finally, WNY Asset Management LLC boosted its stake in Blackstone by 1.7% in the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after buying an additional 64 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BX has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research note on Friday, October 24th. Citigroup decreased their target price on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Piper Sandler dropped their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Morgan Stanley increased their target price on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.74.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 324 shares of Blackstone stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the purchase, the director directly owned 39,077 shares in the company, valued at approximately $5,741,192.84. This represents a 0.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were purchased at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the purchase, the insider owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 2,565,543 shares of company stock worth $69,050,139. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Down 3.4%

Shares of NYSE BX opened at $139.44 on Friday. The company’s 50 day moving average price is $163.69 and its 200-day moving average price is $157.54. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a market capitalization of $102.97 billion, a P/E ratio of 39.84, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The business had revenue of $2.49 billion during the quarter. Equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.7%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s payout ratio is presently 147.43%.

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.