Trivium Point Advisory LLC Makes New Investment in Blackstone Inc. $BX

Trivium Point Advisory LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,680 shares of the asset manager’s stock, valued at approximately $433,000.

Several other institutional investors have also recently added to or reduced their stakes in BX. Ares Financial Consulting LLC purchased a new stake in Blackstone in the 4th quarter valued at about $28,000. Strive Asset Management LLC purchased a new stake in Blackstone in the third quarter valued at approximately $30,000. Palladiem LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at $31,000. West Branch Capital LLC raised its position in shares of Blackstone by 26,600.0% in the 2nd quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after buying an additional 266 shares during the period. Finally, Entrust Financial LLC acquired a new position in Blackstone in the fourth quarter valued at $32,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on BX. Royal Bank Of Canada raised their price objective on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. BNP Paribas Exane reduced their price target on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods raised shares of Blackstone to a “hold” rating in a research report on Monday, July 20th. Finally, Sanford C. Bernstein began coverage on shares of Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.95.

Insider Transactions at Blackstone

In other Blackstone news, CAO David Payne sold 9,500 shares of Blackstone stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the sale, the chief accounting officer directly owned 64,448 shares in the company, valued at $9,359,783.04. The trade was a 12.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vikrant Sawhney sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total value of $4,066,500.00. Following the transaction, the insider owned 869,669 shares of the company’s stock, valued at approximately $117,883,632.95. This trade represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have bought 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.0%

NYSE BX opened at $143.94 on Monday. The stock has a market cap of $108.04 billion, a P/E ratio of 32.20, a PEG ratio of 1.60 and a beta of 1.55. The company’s fifty day simple moving average is $126.51 and its 200-day simple moving average is $122.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. Equities research analysts predict that Blackstone Inc. will post 6 EPS for the current fiscal 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 paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. Blackstone’s payout ratio is presently 115.44%.

Blackstone 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.