Quarry LP Takes $95,000 Position in Blackstone Inc. (NYSE:BX)

Quarry LP acquired a new stake in Blackstone Inc. (NYSE:BX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 770 shares of the asset manager’s stock, valued at approximately $95,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC acquired a new position in Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the 2nd quarter valued at $27,000. Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter worth $29,000. Finally, Ridgewood Investments LLC bought a new position in shares of Blackstone during the second quarter valued at about $31,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BX shares. Barclays increased their price objective on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Bank of America boosted their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley raised their price objective on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler increased their target price on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $130.78.

Blackstone Stock Up 0.2 %

Shares of NYSE:BX opened at $152.21 on Thursday. The company has a market cap of $108.78 billion, a price-to-earnings ratio of 53.78, a PEG ratio of 1.34 and a beta of 1.51. Blackstone Inc. has a one year low of $88.59 and a one year high of $161.25. The firm has a fifty day moving average price of $142.21 and a two-hundred day moving average price of $131.01. 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 (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. During the same quarter last year, the business posted $0.93 EPS. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.15%. Blackstone’s payout ratio is 115.90%.

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.