Oppenheimer & Co. Inc. Purchases 4,628 Shares of Blackstone Inc. (NYSE:BX)

Oppenheimer & Co. Inc. raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,757 shares of the asset manager’s stock after buying an additional 4,628 shares during the period. Oppenheimer & Co. Inc.’s holdings in Blackstone were worth $14,950,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone during the second quarter valued at $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone in the second quarter worth about $27,000. Bank & Trust Co purchased a new position in Blackstone during the 2nd quarter valued at about $29,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Blackstone in the 4th quarter worth approximately $32,000. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

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 stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BX shares. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen boosted their price objective on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Morgan Stanley increased their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Piper Sandler boosted their target price on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $130.78.

Blackstone Price Performance

NYSE:BX opened at $146.56 on Friday. The firm’s fifty day moving average is $135.81 and its two-hundred day moving average is $128.13. The firm has a market cap of $104.74 billion, a price-to-earnings ratio of 51.79, a PEG ratio of 1.18 and a beta of 1.51. Blackstone Inc. has a one year low of $88.59 and a one year high of $146.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

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

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.24%. 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.