Janney Montgomery Scott LLC Has $96.92 Million Stock Holdings in Blackstone Inc. $BX

Janney Montgomery Scott LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 647,929 shares of the asset manager’s stock after acquiring an additional 19,508 shares during the quarter. Janney Montgomery Scott LLC owned about 0.09% of Blackstone worth $96,917,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its position in shares of Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares during the period. Kera Capital Partners Inc. acquired a new stake in shares of Blackstone in the 2nd quarter valued at $273,000. Sandy Cove Advisors LLC boosted its stake in shares of Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after purchasing an additional 2,182 shares in the last quarter. Narwhal Capital Management lifted its position in Blackstone by 34.3% during the 1st quarter. Narwhal Capital Management now owns 64,614 shares of the asset manager’s stock worth $9,032,000 after buying an additional 16,486 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its position in Blackstone by 14.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after buying an additional 1,863 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BX shares. Citigroup reissued a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. JMP Securities increased their price objective on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods raised their price target on Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 25th. Finally, Piper Sandler raised their price target on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $172.71.

Blackstone Stock Performance

NYSE:BX opened at $175.99 on Tuesday. The stock’s 50-day simple moving average is $174.28 and its 200 day simple moving average is $153.26. The firm has a market capitalization of $129.72 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.42 and a beta of 1.77. 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 Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone’s revenue was up 32.7% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.3%. Blackstone’s payout ratio is 110.75%.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the transaction, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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. Company insiders own 1.00% of the company’s stock.

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.