Evelyn Partners Investment Management Services Ltd Buys 4,312 Shares of Blackstone Inc. $BX

Evelyn Partners Investment Management Services Ltd grew its position in shares of Blackstone Inc. (NYSE:BX) by 2,177.8% in the second quarter, Holdings Channel reports. The firm owned 4,510 shares of the asset manager’s stock after purchasing an additional 4,312 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in Blackstone were worth $675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC increased its position in shares of Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock worth $9,346,000 after purchasing an additional 1,949 shares during the last quarter. Redmond Asset Management LLC increased its holdings in shares of Blackstone by 21.2% in the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after buying an additional 3,281 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in shares of Blackstone during the 2nd quarter worth $273,000. Vanguard Group Inc. increased its stake in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in Blackstone during the second quarter worth about $423,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Blackstone from $166.00 to $164.00 and set a “buy” rating for the company in a report on Friday, November 14th. Bank of America lowered their target price on Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. Citigroup decreased their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. cut their target price on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $195.00 price target on shares of Blackstone in a research report on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.00.

Blackstone Stock Performance

Shares of BX opened at $142.59 on Friday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a 50-day simple moving average of $159.22 and a two-hundred day simple moving average of $157.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The firm has a market capitalization of $105.30 billion, a PE ratio of 40.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76.

Blackstone (NYSE:BX) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were given a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. Blackstone’s dividend payout ratio is 147.43%.

Insiders Place Their Bets

In other news, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction on Tuesday, November 4th. The stock was acquired at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the purchase, the director owned 68,906 shares in the company, valued at $9,912,817.16. This trade represents a 25.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider directly owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This trade represents a 4.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have bought 2,565,543 shares of company stock valued at $69,050,139. Insiders own 1.00% of the company’s stock.

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.