Kerusso Capital Management LLC Purchases New Holdings in Blackstone Inc. (NYSE:BX)

Kerusso Capital Management LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,185 shares of the asset manager’s stock, valued at approximately $2,499,000. Blackstone accounts for 1.8% of Kerusso Capital Management LLC’s holdings, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Moseley Investment Management Inc. increased its holdings in 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 purchasing an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings 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 worth $1,713,000 after purchasing an additional 80 shares in the last quarter. Signaturefd LLC lifted its position in shares of Blackstone by 0.6% during the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 80 shares during the last quarter. BSW Wealth Partners raised its stake in shares of Blackstone by 1.9% during the 1st quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock worth $599,000 after acquiring an additional 84 shares in the last quarter. Finally, WR Wealth Planners LLC boosted its stake in Blackstone by 23.7% in the second quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after acquiring an additional 84 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

BX stock opened at $137.12 on Friday. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $145.16. The firm has a market capitalization of $97.99 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50 day simple moving average of $134.22 and a 200-day simple moving average of $127.68.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.39%. Blackstone’s dividend payout ratio is currently 115.90%.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the 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 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 hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 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 SEC, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of Blackstone 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 transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Morgan Stanley upped their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Barclays boosted their price target on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. TD Cowen lifted their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Piper Sandler lifted 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. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $128.94.

Blackstone Company 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.