one8zero8 LLC Invests $8.32 Million in Blackstone Inc. $BX

one8zero8 LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,707 shares of the asset manager’s stock, valued at approximately $8,320,000. Blackstone makes up approximately 1.6% of one8zero8 LLC’s investment portfolio, making the stock its 12th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of BX. Strive Asset Management LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $30,000. Ares Financial Consulting LLC bought a new position in Blackstone during the fourth quarter worth $28,000. Kelleher Financial Advisors bought a new stake in Blackstone in the third quarter valued at $34,000. Palladiem LLC bought a new position in shares of Blackstone during the 4th quarter worth about $31,000. Finally, Entrust Financial LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at about $32,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

Blackstone stock opened at $145.15 on Thursday. The stock has a market cap of $108.95 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.56 and a beta of 1.56. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average price is $127.99 and its two-hundred day moving average price is $122.43. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. Blackstone’s payout ratio is presently 115.44%.

Analyst Ratings Changes

Several brokerages have issued reports on BX. Rothschild & Co Redburn cut their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Royal Bank Of Canada upped their target price on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Citizens Jmp reduced their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Sanford C. Bernstein initiated coverage on shares of Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Barclays lifted their price objective on shares of Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.95.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 371 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $137.17 per share, for a total transaction of $50,890.07. Following the purchase, the director directly owned 42,189 shares in the company, valued at approximately $5,787,065.13. This trade represents a 0.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David Payne sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the completion of the transaction, the chief accounting officer owned 64,448 shares in the company, valued at approximately $9,359,783.04. The trade was a 12.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by corporate 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.