Magnus Financial Group LLC Acquires 618 Shares of Blackstone Inc. $BX

Magnus Financial Group LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,797 shares of the asset manager’s stock after purchasing an additional 618 shares during the quarter. Magnus Financial Group LLC’s holdings in Blackstone were worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted its position in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. boosted its position in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock valued at $9,504,702,000 after acquiring an additional 1,102,949 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after acquiring an additional 742,829 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Blackstone by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock valued at $599,872,000 after acquiring an additional 182,526 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Blackstone by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock valued at $581,886,000 after acquiring an additional 117,724 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ruth Porat bought 222 shares of the business’s stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $170.29 per share, with a total value of $37,804.38. Following the transaction, the director owned 38,753 shares in the company, valued at approximately $6,599,248.37. This trade represents a 0.58% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 3,727,877 shares of company stock worth $95,046,625 and have sold 16,871,634 shares worth $135,328,376. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 3.6%

NYSE:BX opened at $178.21 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a market cap of $131.36 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.77. The company has a 50 day simple moving average of $173.90 and a two-hundred day simple moving average of $152.30.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’s revenue was up 32.7% on a year-over-year basis. Research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. Blackstone’s payout ratio is presently 110.75%.

Analyst Upgrades and Downgrades

BX has been the subject of several recent research reports. Barclays lifted their target price on shares of Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Wells Fargo & Company lifted their target price on shares of Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $170.00 to $192.00 and gave the company a “buy” rating in a report on Friday, July 25th. JMP Securities lifted their target price on shares of Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Blackstone in a report on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and a consensus target price of $172.38.

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.