9,309 Shares in Blackstone Inc. $BX Purchased by Renasant Bank

Renasant Bank bought a new position in Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,309 shares of the asset manager’s stock, valued at approximately $1,095,000.

A number of other large investors also recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new stake in shares of Blackstone during the 2nd quarter valued at about $30,000. Addison Advisors LLC acquired a new stake in shares of Blackstone in the 2nd quarter worth approximately $30,000. Strive Asset Management LLC acquired a new stake in shares of Blackstone in the third quarter valued at $30,000. Palladiem LLC bought a new stake in Blackstone during the fourth quarter worth approximately $31,000. Finally, 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 during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus lifted their target price on shares of Blackstone from $146.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. TD Cowen lifted their target price on shares of Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft started coverage on Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Finally, Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $149.43.

Blackstone Stock Up 0.7%

Shares of NYSE:BX opened at $143.32 on Tuesday. 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 company has a market capitalization of $107.58 billion, a PE ratio of 32.06, a PEG ratio of 1.55 and a beta of 1.55. The company has a 50 day moving average price of $131.06 and a two-hundred day moving average price of $122.93.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the firm earned $0.98 EPS. Blackstone’s quarterly revenue was up 35.9% compared to the same quarter last year. Analysts forecast that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

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

Insider Activity

In other news, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the company’s stock in a transaction on Friday, August 21st. The shares were purchased at an average price of $26.14 per share, with a total value of $7,126,861.88. Following the purchase, the insider directly owned 8,704,419 shares of the company’s stock, valued at $227,533,512.66. This trade represents a 3.23% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $26.14 per share, for a total transaction of $20,000,001.54. Following the transaction, the insider owned 7,882,145 shares in the company, valued at $206,039,270.30. The trade was a 10.75% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. Company insiders own 1.00% of the company’s stock.

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.