Missouri Trust & Investment Co Has $1.91 Million Position in Blackstone Inc. $BX

Missouri Trust & Investment Co grew its stake in Blackstone Inc. (NYSE:BX) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,777 shares of the asset manager’s stock after buying an additional 217 shares during the period. Missouri Trust & Investment Co’s holdings in Blackstone were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in shares of Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after buying an additional 70,118,948 shares during the period. GAMMA Investing LLC grew its holdings in Blackstone by 14,608.6% during the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager’s stock worth $184,873,000 after acquiring an additional 1,313,606 shares during the period. Vanguard Group Inc. lifted its stake in shares of Blackstone by 1.6% in 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 purchasing an additional 1,102,949 shares during the period. Nuveen LLC bought a new stake in shares of Blackstone during the 1st quarter valued at about $151,524,000. Finally, Amundi increased its holdings in Blackstone by 69.3% in the first quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock worth $323,000,000 after purchasing an additional 990,947 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 3.6%

Shares of NYSE:BX opened at $178.21 on Thursday. The stock has a market cap of $131.36 billion, a price-to-earnings ratio of 47.91, a PEG ratio of 1.50 and a beta of 1.77. The business’s 50 day moving average is $173.90 and its 200 day moving average is $152.30. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (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 firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed 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 an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s payout ratio is presently 110.75%.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was bought at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 3,727,877 shares of company stock worth $95,046,625 and sold 16,871,634 shares worth $135,328,376. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on BX shares. Wells Fargo & Company raised their price objective on shares of Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Blackstone in a report on Friday, July 25th. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Evercore ISI upped their price target on Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Finally, Piper Sandler raised their price objective on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and a consensus price target 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.