Mather Group LLC. Boosts Holdings in Blackstone Inc. (NYSE:BX)

Mather Group LLC. lifted its position in shares of Blackstone Inc. (NYSE:BX) by 44.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,264 shares of the asset manager’s stock after acquiring an additional 3,151 shares during the quarter. Mather Group LLC.’s holdings in Blackstone were worth $1,348,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BX. Vanguard Group Inc. boosted its position in shares of Blackstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after acquiring an additional 1,290,324 shares during the last quarter. Capital World Investors boosted its holdings in Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the period. Brown Advisory Inc. boosted its stake in shares of Blackstone by 5.3% during the fourth quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock valued at $841,783,000 after purchasing an additional 322,860 shares during the period. Norges Bank purchased a new position in shares of Blackstone in the fourth quarter valued at about $708,859,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after purchasing an additional 21,450 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, insider Joseph Baratta 4,987 shares of the stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BX. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Argus raised their price target on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Piper Sandler upped their price objective on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Morgan Stanley lifted their target price on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, UBS Group raised their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $127.56.

Blackstone Stock Up 0.6 %

BX stock traded up $0.79 during trading on Tuesday, hitting $130.30. 3,288,600 shares of the stock traded hands, compared to its average volume of 3,571,750. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.79. The stock has a market cap of $93.12 billion, a price-to-earnings ratio of 46.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $145.16. The firm’s 50 day moving average is $127.27 and its two-hundred day moving average is $125.84.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 earnings per share. On average, sell-side analysts anticipate that Blackstone Inc. will post 4.58 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is 115.90%.

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.