Moors & Cabot Inc. Purchases 100 Shares of Blackstone Inc. (NYSE:BX)

Moors & Cabot Inc. lifted its holdings in Blackstone Inc. (NYSE:BX) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,967 shares of the asset manager’s stock after acquiring an additional 100 shares during the period. Moors & Cabot Inc.’s holdings in Blackstone were worth $7,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. Moseley Investment Management Inc. boosted its holdings in shares of Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after buying an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after purchasing an additional 80 shares in the last quarter. Signaturefd LLC boosted its position in shares of Blackstone by 0.6% during the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 80 shares in the last quarter. WR Wealth Planners LLC increased its position in Blackstone by 23.7% in the 2nd quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after buying an additional 84 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. boosted its holdings in Blackstone by 1.3% in the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Piper Sandler increased their target price on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Redburn Atlantic began coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. 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. Finally, Bank of America upped their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $130.78.

Blackstone Stock Up 2.2 %

Blackstone stock opened at $154.58 on Tuesday. The firm has a market capitalization of $111.31 billion, a price-to-earnings ratio of 54.62, a P/E/G ratio of 1.23 and a beta of 1.51. The firm has a 50 day simple moving average of $137.05 and a 200 day simple moving average of $128.53. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $155.18. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued 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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the company posted $0.93 EPS. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is presently 115.90%.

Insider Activity

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

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.