Oppenheimer Asset Management Inc. Has $7.48 Million Stock Position in Blackstone Inc. (NYSE:BX)

Oppenheimer Asset Management Inc. increased its stake in Blackstone Inc. (NYSE:BX) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 60,445 shares of the asset manager’s stock after purchasing an additional 6,788 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Blackstone were worth $7,483,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BX. Vanguard Group Inc. increased its holdings in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after buying an additional 1,290,324 shares during the period. Capital World Investors grew its position in Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after acquiring an additional 2,546,886 shares during the last quarter. Norges Bank acquired a new stake in shares of Blackstone in the fourth quarter valued at $708,859,000. Janus Henderson Group PLC raised its stake in shares of Blackstone by 0.5% in the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after acquiring an additional 21,450 shares during the last quarter. Finally, Lone Pine Capital LLC acquired a new position in Blackstone during the 4th quarter worth $290,514,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Up 3.2 %

Shares of NYSE:BX opened at $151.19 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $151.87. The company has a market capitalization of $108.87 billion, a P/E ratio of 53.42, a P/E/G ratio of 1.23 and a beta of 1.51. The business’s 50 day simple moving average is $136.38 and its 200 day simple moving average is $128.34.

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

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is 115.90%.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone 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 transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BX shares. Piper Sandler raised their price objective on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Company assumed coverage on shares of Blackstone in a report on Thursday. They set an “overweight” rating and a $163.00 target price on the stock. Barclays lifted their target price on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. TD Cowen boosted their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Bank of America raised their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.