Public Employees Retirement System of Ohio Buys Shares of 286,205 Blackstone Inc. $BX
by Kim Johansen · The Markets DailyPublic Employees Retirement System of Ohio purchased a new stake in shares of Blackstone Inc. (NYSE:BX – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 286,205 shares of the asset manager’s stock, valued at approximately $33,678,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings 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 valued at $1,365,000 after acquiring an additional 2,035 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares during the last quarter. United Bank boosted its holdings in shares of 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 buying an additional 1,729 shares during the period. Nebula Research & Development LLC bought a new position in Blackstone in the 2nd quarter worth $1,124,000. Finally, Sei Investments Co. boosted its holdings in Blackstone by 1.9% during the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after acquiring an additional 8,655 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on BX. HSBC restated a “hold” rating and set a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. JPMorgan Chase & Co. cut their target price on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Oppenheimer raised their price target on shares of Blackstone from $140.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $149.43.
Get Our Latest Research Report on Blackstone
Blackstone Stock Down 0.7%
NYSE BX opened at $142.63 on Friday. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a market capitalization of $107.06 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.57 and a beta of 1.56. The stock’s 50 day moving average is $130.65 and its two-hundred day moving average is $122.92. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63.
Blackstone (NYSE:BX – Get Free Report) last posted its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS 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 business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the company earned $0.98 EPS. Blackstone’s revenue was up 35.9% on a year-over-year basis. Equities analysts forecast that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a $1.29 dividend. 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. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 115.44%.
Insider Buying and Selling at Blackstone
In related news, CAO David Payne sold 9,500 shares of Blackstone stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the completion of the transaction, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at $9,359,783.04. This trade represents a 12.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ruth Porat acquired 371 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $137.17 per share, for a total transaction of $50,890.07. Following the completion of the purchase, the director directly owned 42,189 shares of the company’s stock, valued at approximately $5,787,065.13. The trade was a 0.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. Company insiders own 1.00% of the company’s stock.
About Blackstone
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.
Recommended Stories
- Five stocks we like better than Blackstone
- 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
- IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
- Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
- Okta Stock Surges 29%—Is $200 the Next Stop?
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).