McKinley Carter Wealth Services Inc. Boosts Position in Blackstone Inc. $BX

McKinley Carter Wealth Services Inc. boosted its position in shares of Blackstone Inc. (NYSE:BX) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,950 shares of the asset manager’s stock after acquiring an additional 110 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Blackstone were worth $740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Coordinated Financial Services Inc. purchased a new stake in Blackstone in the second quarter worth about $857,000. Moseley Investment Management Inc. increased its position in Blackstone by 2.7% in the second quarter. Moseley Investment Management Inc. now owns 11,927 shares of the asset manager’s stock worth $1,784,000 after buying an additional 316 shares in the last quarter. IFP Advisors Inc increased its position in Blackstone by 27.6% in the second quarter. IFP Advisors Inc now owns 7,228 shares of the asset manager’s stock worth $1,112,000 after buying an additional 1,564 shares in the last quarter. Callan Family Office LLC increased its position in Blackstone by 36.6% in the second quarter. Callan Family Office LLC now owns 53,172 shares of the asset manager’s stock worth $7,953,000 after buying an additional 14,240 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Blackstone by 0.7% in the second quarter. Blair William & Co. IL now owns 1,355,932 shares of the asset manager’s stock worth $202,820,000 after buying an additional 10,013 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone purchased 1,189,532 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $25.22 per share, for a total transaction of $29,999,997.04. Following the completion of the acquisition, the insider directly owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BX. Wells Fargo & Company increased their target price on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. BNP Paribas Exane increased their target price on Blackstone from $166.00 to $178.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Piper Sandler cut their target price on Blackstone from $181.00 to $173.00 and set a “neutral” rating for the company in a research report on Thursday. Citigroup reiterated a “market perform” rating on shares of Blackstone in a research report on Saturday, July 19th. Finally, Barclays cut their target price on Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Trading Down 4.2%

Shares of NYSE BX opened at $153.88 on Friday. The business’s 50 day moving average price is $172.53 and its 200-day moving average price is $154.17. The company has a market cap of $113.42 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 1.31 and a beta of 1.77. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74.

Blackstone (NYSE:BX) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The company had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. On average, sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, August 4th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is 110.75%.

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.