Edmond DE Rothschild Holding S.A. Makes New Investment in Blackstone Inc. $BX

Edmond DE Rothschild Holding S.A. purchased a new position in Blackstone Inc. (NYSE:BX) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 7,070 shares of the asset manager’s stock, valued at approximately $832,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. United Bank bought a new stake in shares of Blackstone in the 2nd quarter valued at about $1,986,000. CM Wealth Advisors LLC bought a new stake in Blackstone in the second quarter valued at approximately $375,000. Madison Asset Management LLC bought a new position in shares of Blackstone during the second quarter worth $203,000. Csenge Advisory Group acquired a new position in shares of Blackstone in the 2nd quarter valued at $916,000. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in Blackstone during the 2nd quarter worth $4,683,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total value of $4,066,500.00. Following the completion of the transaction, the insider directly owned 869,669 shares in the company, valued at $117,883,632.95. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David Payne sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total value of $1,379,685.00. Following the sale, the chief accounting officer owned 64,448 shares in the company, valued at approximately $9,359,783.04. This represents a 12.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler boosted their target price on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods upgraded Blackstone to a “hold” rating in a report on Monday, July 20th. Barclays increased their target price on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Rothschild & Co Redburn reduced their price target on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

Blackstone Stock Down 2.5%

Shares of Blackstone stock opened at $141.50 on Friday. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50 day simple moving average is $128.40 and its 200 day simple moving average is $122.42. The firm has a market cap of $106.21 billion, a PE ratio of 31.66, a P/E/G ratio of 1.61 and a beta of 1.56.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) 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 the consensus estimate of $3.42 billion. During the same period last year, the company earned $0.98 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. On average, analysts predict that Blackstone Inc. will post 6 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $1.29 per share. This is a boost 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 annualized dividend and a yield of 3.6%. Blackstone’s payout ratio is presently 115.44%.

Blackstone Company 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.