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Institutional investors boosted Blackstone shares amid strong earnings and a rising stock price.
Institutional investors Marietta Wealth Management and Kercheville Advisors increased their stakes in Blackstone Inc. during the second quarter, with Marietta raising its holdings by 3.8% and Kercheville by 21.2%.
The firm reported strong financial results on July 24, posting $1.21 in earnings per share, surpassing estimates, and achieving a 32.7% year-over-year revenue increase to $3.07 billion.
Blackstone has a consensus "Moderate Buy" rating, a price target of $175.53, and a market cap of $124.12 billion.
Its stock traded around $168.40, with a 2.4% dividend yield, though the payout ratio is 110.75%.
Institutional ownership remains high at 70%.
Los inversores institucionales impulsaron las acciones de Blackstone en medio de fuertes ganancias y un aumento del precio de las acciones.