Bryn Mawr Trust Advisors LLC Has $2 Million Position in Blackstone Inc. $BX

Bryn Mawr Trust Advisors LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 13,336 shares of the asset manager’s stock after acquiring an additional 770 shares during the period. Bryn Mawr Trust Advisors LLC’s holdings in Blackstone were worth $1,995,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Smart Money Group LLC boosted its holdings in Blackstone by 2.1% during the second quarter. Smart Money Group LLC now owns 3,458 shares of the asset manager’s stock valued at $517,000 after purchasing an additional 72 shares in the last quarter. Savant Capital LLC boosted its stake in Blackstone by 1.8% in the 2nd quarter. Savant Capital LLC now owns 18,255 shares of the asset manager’s stock valued at $2,731,000 after buying an additional 325 shares in the last quarter. Modera Wealth Management LLC raised its stake in Blackstone by 23.4% during the second quarter. Modera Wealth Management LLC now owns 19,158 shares of the asset manager’s stock worth $2,866,000 after acquiring an additional 3,627 shares in the last quarter. Washington Trust Bank bought a new position in shares of Blackstone during the second quarter valued at $322,000. Finally, Resona Asset Management Co. Ltd. grew its holdings in shares of Blackstone by 6.4% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 238,432 shares of the asset manager’s stock worth $35,721,000 after purchasing an additional 14,351 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BX. Piper Sandler reduced their price target on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Citigroup reduced their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. BMO Capital Markets cut their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Morgan Stanley increased their target price on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, Jefferies Financial Group reduced their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.74.

Blackstone Trading Up 1.8%

BX stock opened at $146.00 on Friday. The business has a fifty day moving average of $165.79 and a 200-day moving average of $157.17. The company has a market cap of $107.61 billion, a P/E ratio of 41.71, a PEG ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion during the quarter. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be paid a $1.29 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. Blackstone’s payout ratio is 147.43%.

Insider Activity

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction dated 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 transaction, the insider owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were bought at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider directly owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 2,565,415 shares of company stock worth $69,037,981 and have sold 16,875,234 shares worth $136,847,628. 1.00% of the stock is currently owned by 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.