Bryn Mawr Trust Advisors LLC Makes New $1.60 Million Investment in Blackstone Inc. $BX

Bryn Mawr Trust Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,604 shares of the asset manager’s stock, valued at approximately $1,601,000.

Other hedge funds have also recently made changes to their positions in the company. Trust Asset Management LLC boosted its holdings in Blackstone by 3.4% in the second quarter. Trust Asset Management LLC now owns 8,297 shares of the asset manager’s stock worth $976,000 after acquiring an additional 273 shares in the last quarter. Tema ETFs LLC raised its position in shares of Blackstone by 6.9% in the 2nd quarter. Tema ETFs LLC now owns 14,855 shares of the asset manager’s stock worth $1,748,000 after purchasing an additional 957 shares during the last quarter. West Branch Capital LLC boosted its stake in Blackstone by 26,600.0% in the 2nd quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after purchasing an additional 266 shares in the last quarter. KMG Fiduciary Partners LLC increased its stake in Blackstone by 275.0% during the 2nd quarter. KMG Fiduciary Partners LLC now owns 19,079 shares of the asset manager’s stock valued at $2,245,000 after purchasing an additional 13,991 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its stake in shares of Blackstone by 6.9% in the second quarter. Redhawk Wealth Advisors Inc. now owns 2,758 shares of the asset manager’s stock worth $325,000 after buying an additional 179 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BX. Morgan Stanley decreased their price objective on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Evercore restated an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a research note on Tuesday, April 21st. BNP Paribas Exane reduced their price objective on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Oppenheimer raised their price target on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Argus lifted their price target on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

Blackstone Stock Down 3.6%

BX stock opened at $143.94 on Friday. The business’s 50-day moving average price is $126.51 and its 200-day moving average price is $122.70. The stock has a market cap of $108.04 billion, a P/E ratio of 32.20, a PEG ratio of 1.66 and a beta of 1.56. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Blackstone’s revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities research analysts forecast that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 3rd. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Insider Buying and Selling

In other Blackstone news, CAO David Payne sold 9,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the completion of the sale, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at $9,359,783.04. This trade represents a 12.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 45,000 shares of Blackstone stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the completion of the sale, the insider owned 516,017 shares in the company, valued at approximately $75,911,260.87. This represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by company insiders.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.