Pegasus Asset Management Inc. Boosts Stock Holdings in Blackstone Inc. $BX

Pegasus Asset Management Inc. boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 18.5% during the second quarter, HoldingsChannel.com reports. The firm owned 1,925 shares of the asset manager’s stock after acquiring an additional 300 shares during the period. Pegasus Asset Management Inc.’s holdings in Blackstone were worth $288,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mattern Wealth Management LLC raised its position in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after buying an additional 60 shares in the last quarter. Sage Rhino Capital LLC raised its position in shares of Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after buying an additional 63 shares in the last quarter. Jeppson Wealth Management LLC raised its position in shares of Blackstone by 1.0% during the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after buying an additional 66 shares in the last quarter. McAdam LLC raised its position in shares of Blackstone by 4.4% during the 1st quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after buying an additional 75 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its position in shares of Blackstone by 0.6% during the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock worth $1,652,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $153.88 on Monday. The firm’s 50 day simple moving average is $172.53 and its 200-day simple moving average is $154.28. The company has a market cap of $113.42 billion, a P/E ratio of 41.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America dropped their target price on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. The Goldman Sachs Group boosted their target price on shares of Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Barclays dropped their target price on shares of Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Jefferies Financial Group dropped their target price on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and an average price target of $179.00.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the sale, the insider owned 737,248 shares of the company’s stock, valued at $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is owned by company insiders.

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.