Blackstone Inc. (NYSE:BX) Shares Acquired by Mather Group LLC.

Mather Group LLC. boosted its position in Blackstone Inc. (NYSE:BX) by 44.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,264 shares of the asset manager’s stock after buying an additional 3,151 shares during the quarter. Mather Group LLC.’s holdings in Blackstone were worth $1,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BX. Bay Rivers Group grew its stake in Blackstone by 0.4% during the 1st quarter. Bay Rivers Group now owns 19,853 shares of the asset manager’s stock worth $2,608,000 after buying an additional 84 shares during the last quarter. BSW Wealth Partners raised its stake in shares of Blackstone by 1.9% during the first quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock valued at $599,000 after purchasing an additional 84 shares in the last quarter. Fragasso Group Inc. boosted its holdings in shares of Blackstone by 2.9% in the first quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock valued at $428,000 after acquiring an additional 91 shares in the last quarter. Clearwater Capital Advisors LLC boosted its holdings in shares of Blackstone by 4.3% in the first quarter. Clearwater Capital Advisors LLC now owns 2,210 shares of the asset manager’s stock worth $290,000 after buying an additional 91 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of Blackstone by 0.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 15,585 shares of the asset manager’s stock valued at $2,047,000 after acquiring an additional 93 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of NYSE BX traded up $0.79 during midday trading on Tuesday, reaching $130.30. 3,288,600 shares of the company traded hands, compared to its average volume of 3,571,750. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $145.16. The stock’s 50-day simple moving average is $127.27 and its 200-day simple moving average is $125.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The firm has a market cap of $93.12 billion, a PE ratio of 46.04, a PEG ratio of 1.17 and a beta of 1.50.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $0.93 EPS. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. As a group, equities analysts anticipate that Blackstone Inc. will post 4.58 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.52%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is 115.90%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BX. JMP Securities restated a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Piper Sandler increased 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. UBS Group lifted their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Bank of America raised their price target on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Morgan Stanley raised their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $127.56.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.