Investor s Fiduciary Advisor Network LLC Takes $954,000 Position in Blackstone Inc. $BX

Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 8,111 shares of the asset manager’s stock, valued at approximately $954,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in shares of Blackstone during the 4th quarter valued at $28,000. Bell Investment Advisors Inc purchased a new stake in shares of Blackstone during the second quarter worth $30,000. Addison Advisors LLC acquired a new stake in Blackstone during the second quarter valued at $30,000. Strive Asset Management LLC acquired a new position in Blackstone in the 3rd quarter worth about $30,000. Finally, Palladiem LLC acquired a new stake in shares of Blackstone during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $143.56 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average is $128.82 and its two-hundred day moving average is $122.44. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The firm has a market capitalization of $107.76 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 1.56 and a beta of 1.56.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors 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 was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. Blackstone’s dividend payout ratio is currently 115.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays increased their price objective on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Sanford C. Bernstein initiated coverage on shares of Blackstone in a report on Monday, June 8th. They issued an “outperform” rating for the company. Weiss Ratings raised Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Finally, TD Cowen boosted their target price on Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 24th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $147.95.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total value of $6,619,950.00. Following the completion of the sale, the insider directly owned 516,017 shares in the company, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Vikrant Sawhney sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the completion of the transaction, the insider directly owned 869,669 shares of the company’s stock, valued at approximately $117,883,632.95. This represents a 3.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by company insiders.

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.