Amplius Wealth Advisors LLC Acquires 1,069 Shares of Blackstone Inc. $BX

Amplius Wealth Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,541 shares of the asset manager’s stock after purchasing an additional 1,069 shares during the quarter. Blackstone makes up approximately 1.8% of Amplius Wealth Advisors LLC’s holdings, making the stock its 19th biggest holding. Amplius Wealth Advisors LLC’s holdings in Blackstone were worth $19,227,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Simon Quick Advisors LLC raised its position in shares of Blackstone by 2.4% in the 2nd quarter. Simon Quick Advisors LLC now owns 7,212 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 170 shares during the period. Strs Ohio raised its position in shares of Blackstone by 4.6% in the 2nd quarter. Strs Ohio now owns 203,614 shares of the asset manager’s stock valued at $30,457,000 after acquiring an additional 8,931 shares during the period. Amalgamated Bank raised its holdings in Blackstone by 5.0% during the 2nd quarter. Amalgamated Bank now owns 162,677 shares of the asset manager’s stock worth $24,333,000 after buying an additional 7,747 shares during the period. Atria Investments Inc raised its holdings in Blackstone by 2.4% during the 2nd quarter. Atria Investments Inc now owns 79,877 shares of the asset manager’s stock worth $11,948,000 after buying an additional 1,876 shares during the period. Finally, Spinnaker Trust raised its holdings in Blackstone by 13.4% during the 2nd quarter. Spinnaker Trust now owns 13,123 shares of the asset manager’s stock worth $1,963,000 after buying an additional 1,551 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. HSBC cut their price target on Blackstone from $179.00 to $178.00 in a report on Monday. The Goldman Sachs Group boosted their price target on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group lowered their price objective on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Morgan Stanley lifted their price objective on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a report on Monday, October 13th. Eleven investment analysts have rated the stock with a Buy rating and nine 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 price target of $179.74.

Insider Activity

In other news, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the sale, the insider owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of Blackstone stock in a transaction dated Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Shares of BX opened at $148.42 on Friday. The company has a market cap of $109.40 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 1.18 and a beta of 1.77. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company’s fifty day simple moving average is $168.98 and its 200 day simple moving average is $156.52. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. On average, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.