Bryn Mawr Capital Management LLC Purchases 1,399 Shares of Blackstone Inc. (NYSE:BX)

Bryn Mawr Capital Management LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,965 shares of the asset manager’s stock after acquiring an additional 1,399 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Blackstone were worth $1,757,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BX. International Assets Investment Management LLC grew its holdings in Blackstone by 6.3% during the 4th quarter. International Assets Investment Management LLC now owns 27,680 shares of the asset manager’s stock valued at $3,624,000 after buying an additional 1,640 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Blackstone by 22.3% in the 4th quarter. Russell Investments Group Ltd. now owns 202,475 shares of the asset manager’s stock worth $26,584,000 after purchasing an additional 36,977 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Blackstone by 24.1% during the 4th quarter. Van ECK Associates Corp now owns 9,044 shares of the asset manager’s stock valued at $1,184,000 after purchasing an additional 1,755 shares in the last quarter. Mission Wealth Management LP raised its position in shares of Blackstone by 61.1% in the fourth quarter. Mission Wealth Management LP now owns 7,201 shares of the asset manager’s stock worth $943,000 after buying an additional 2,730 shares in the last quarter. Finally, Savant Capital LLC grew its position in Blackstone by 1.5% during the fourth quarter. Savant Capital LLC now owns 18,435 shares of the asset manager’s stock worth $2,414,000 after buying an additional 280 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays boosted their price objective on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Bank of America raised their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler upped their price objective on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $128.94.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 of the company’s stock, valued at $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $142.36 on Friday. Blackstone Inc. has a one year low of $88.59 and a one year high of $145.16. The firm has a market capitalization of $101.74 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The company has a 50-day simple moving average of $132.78 and a two-hundred day simple moving average of $127.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.79.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. On average, analysts anticipate that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is 115.90%.

About Blackstone

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.