Wealthcare Capital Partners LLC Grows Holdings in Blackstone Inc. $BX

Wealthcare Capital Partners LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,517 shares of the asset manager’s stock after purchasing an additional 685 shares during the period. Blackstone comprises approximately 1.0% of Wealthcare Capital Partners LLC’s holdings, making the stock its 20th largest holding. Wealthcare Capital Partners LLC’s holdings in Blackstone were worth $2,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Brighton Jones LLC grew its position in shares of 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 buying an additional 2,035 shares in the last quarter. Portside Wealth Group LLC bought a new stake in Blackstone during the first quarter valued at about $183,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Blackstone by 126.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 573 shares of the asset manager’s stock valued at $80,000 after purchasing an additional 320 shares in the last quarter. Breakwater Capital Group bought a new stake in Blackstone during the first quarter valued at about $215,000. Finally, Pines Wealth Management LLC boosted its position in Blackstone by 5.7% during the first quarter. Pines Wealth Management LLC now owns 2,215 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.1%

Blackstone stock opened at $168.40 on Friday. The firm has a market cap of $124.12 billion, a price-to-earnings ratio of 45.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The business’s 50-day moving average price is $173.81 and its 200 day moving average price 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 posted its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.4%. 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 is 110.75%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. Citigroup reaffirmed a “market perform” rating on shares of Blackstone in a research report on Saturday, July 19th. Piper Sandler increased their price target on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. BMO Capital Markets initiated coverage on Blackstone in a research note on Friday. They issued an “outperform” rating and a $190.00 price target for the company. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group increased their price target on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.53.

Insider Buying and Selling

In other Blackstone news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were bought at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the acquisition, the insider owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares in the company, valued at approximately $122,237,547.33. The trade was a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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 company insiders.

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.