one8zero8 LLC Invests $8.32 Million in Blackstone Inc. $BX

one8zero8 LLC purchased a new stake in Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 70,707 shares of the asset manager’s stock, valued at approximately $8,320,000. Blackstone accounts for approximately 1.6% of one8zero8 LLC’s investment portfolio, making the stock its 12th biggest position.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Blackstone by 9.3% in the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after buying an additional 177 shares during the period. United Bank increased its stake in Blackstone by 14.7% during the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after acquiring an additional 1,729 shares during the period. Nebula Research & Development LLC acquired a new position in Blackstone in the 2nd quarter valued at $1,124,000. Finally, Sei Investments Co. grew its holdings in shares of Blackstone by 1.9% during the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after purchasing an additional 8,655 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Citizens Jmp dropped their target price on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Argus upped their price target on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. BNP Paribas Exane lowered their price objective on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Barclays raised their target price on Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.95.

Blackstone Stock Up 3.2%

Shares of NYSE:BX opened at $145.15 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a market capitalization of $108.95 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.56. The company has a fifty day moving average of $127.99 and a 200-day moving average of $122.43.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts predict that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $1.29 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone’s payout ratio is presently 115.44%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider directly owned 19,374 shares in the company, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of Blackstone stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the acquisition, the insider directly owned 7,882,145 shares of the company’s stock, valued at $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by company insiders.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.