Brown Miller Wealth Management LLC Buys 323 Shares of Blackstone Inc. $BX

Brown Miller Wealth Management LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,052 shares of the asset manager’s stock after purchasing an additional 323 shares during the period. Brown Miller Wealth Management LLC’s holdings in Blackstone were worth $1,204,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BX. OLD National Bancorp IN increased its position in Blackstone by 746.0% during the second quarter. OLD National Bancorp IN now owns 51,977 shares of the asset manager’s stock valued at $7,775,000 after acquiring an additional 45,833 shares during the last quarter. MBL Wealth LLC bought a new stake in shares of Blackstone during the 2nd quarter valued at about $238,000. Wealthcare Capital Partners LLC lifted its stake in shares of Blackstone by 5.3% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 13,517 shares of the asset manager’s stock worth $2,022,000 after purchasing an additional 685 shares during the period. Wealthcare Advisory Partners LLC grew its position in Blackstone by 6.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 30,043 shares of the asset manager’s stock valued at $4,494,000 after buying an additional 1,841 shares during the period. Finally, Clarius Group LLC raised its position in Blackstone by 0.9% in the second quarter. Clarius Group LLC now owns 14,497 shares of the asset manager’s stock worth $2,168,000 after acquiring an additional 131 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Saturday, September 27th. JMP Securities raised their price objective on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research note on Friday, July 25th. Evercore ISI increased their target price on shares of Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Barclays upped their price target on shares of Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Finally, Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.53.

Insider Buying and Selling

In related news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on 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 directly owned 737,248 shares in the company, valued at $128,015,742.72. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

BX stock opened at $168.40 on Friday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The firm has a market cap of $124.12 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 1.37 and a beta of 1.77. The business’s fifty day simple moving average is $173.81 and its two-hundred day simple moving average is $153.80. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a dividend of $1.03 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.4%. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.

Blackstone 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.