DiNuzzo Private Wealth Inc. Buys 216 Shares of Blackstone Inc. $BX

DiNuzzo Private Wealth Inc. increased its stake in Blackstone Inc. (NYSE:BX) by 178.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 337 shares of the asset manager’s stock after purchasing an additional 216 shares during the period. DiNuzzo Private Wealth Inc.’s holdings in Blackstone were worth $50,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1248 Management LLC purchased a new stake in Blackstone in the first quarter worth approximately $25,000. von Borstel & Associates Inc. purchased a new stake in Blackstone in the first quarter worth approximately $28,000. Wealth Preservation Advisors LLC purchased a new stake in Blackstone in the first quarter worth approximately $28,000. Anderson Financial Strategies LLC purchased a new stake in Blackstone in the first quarter worth approximately $28,000. Finally, Livelsberger Financial Advisory purchased a new stake in Blackstone in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the transaction, the director owned 695,757 shares in the company, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the firm’s stock in a transaction 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 transaction, the insider owned 737,248 shares of the company’s stock, valued at $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have 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 Blackstone stock opened at $175.99 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a market cap of $129.72 billion, a PE ratio of 47.31, a P/E/G ratio of 1.42 and a beta of 1.77. The business has a 50 day moving average of $174.28 and a 200 day moving average of $153.26. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities research analysts forecast 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. Shareholders of record on Monday, August 4th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio is currently 110.75%.

Analyst Ratings Changes

BX has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a “neutral” rating on shares of Blackstone in a research note on Friday, July 25th. Evercore ISI increased their price objective on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. BNP Paribas Exane increased their price objective on Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a research note on Monday. JMP Securities increased their price objective on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods increased their price objective on Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.71.

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.