King Luther Capital Management Corp Has $2.13 Million Holdings in Blackstone Inc. $BX

King Luther Capital Management Corp grew its holdings in Blackstone Inc. (NYSE:BX) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,236 shares of the asset manager’s stock after purchasing an additional 700 shares during the quarter. King Luther Capital Management Corp’s holdings in Blackstone were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in BX. Perigon Wealth Management LLC grew its position in Blackstone by 3.2% during the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after buying an additional 1,949 shares during the period. Redmond Asset Management LLC grew its position in shares of Blackstone by 21.2% during the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after acquiring an additional 3,281 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $273,000. Bourgeon Capital Management LLC bought a new position in Blackstone during the second quarter valued at $423,000. Finally, Sandy Cove Advisors LLC raised its stake in shares of Blackstone by 22.1% in the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after buying an additional 2,182 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the transaction, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 2,565,141 shares of company stock valued at $68,991,351 and sold 16,875,234 shares valued at $136,847,628. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BX has been the subject of several recent research reports. Bank of America decreased their price objective on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. Jefferies Financial Group lowered their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Piper Sandler cut their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Morgan Stanley raised their price target on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, BNP Paribas Exane dropped their price objective on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.74.

Blackstone Price Performance

Blackstone stock opened at $144.39 on Tuesday. The stock has a market cap of $106.43 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 1.18 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The business has a 50-day simple moving average of $165.25 and a 200 day simple moving average of $157.68. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. On average, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. Blackstone’s dividend payout ratio is 147.43%.

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.