Wealth Architects LLC lifted its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,687 shares of the asset manager’s stock after purchasing an additional 80 shares during the quarter. Wealth Architects LLC’s holdings in Blackstone were worth $252,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Blackstone by 5.2% during the first quarter. GAMMA Investing LLC now owns 9,462 shares of the asset manager’s stock worth $1,323,000 after acquiring an additional 470 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in Blackstone by 13.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 5,733 shares of the asset manager’s stock valued at $801,000 after acquiring an additional 667 shares in the last quarter. CVA Family Office LLC increased its holdings in Blackstone by 18.1% during the 1st quarter. CVA Family Office LLC now owns 1,591 shares of the asset manager’s stock worth $222,000 after purchasing an additional 244 shares in the last quarter. Finally, CRA Financial Services LLC raised its stake in shares of Blackstone by 7.5% in the 1st quarter. CRA Financial Services LLC now owns 2,787 shares of the asset manager’s stock valued at $390,000 after purchasing an additional 194 shares during the period. 70.00% of the stock is currently owned by institutional investors.
Blackstone Stock Down 4.2%
Blackstone stock opened at $153.88 on Monday. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a market capitalization of $113.42 billion, a PE ratio of 41.37, a P/E/G ratio of 1.25 and a beta of 1.77. The company’s 50-day moving average is $172.53 and its 200-day moving average is $154.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.
Analyst Ratings Changes
BX has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Jefferies Financial Group decreased their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Blackstone from $194.00 to $188.00 and set a “buy” rating for the company in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Finally, TD Cowen decreased their price objective on Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and an average target price of $179.00.
Get Our Latest Stock Report on BX
Insider Buying and Selling
In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was purchased at an average cost of $25.22 per share, for a total transaction of $29,999,997.04. Following the transaction, the insider directly owned 4,178,771 shares of the company’s stock, valued at $105,388,604.62. The trade was a 39.79% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company’s stock.
About Blackstone
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.
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