12,087 Shares in Blackstone Inc. (NYSE:BX) Acquired by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC bought a new position in Blackstone Inc. (NYSE:BX) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 12,087 shares of the asset manager’s stock, valued at approximately $1,690,000.

Other hedge funds have also modified their holdings of the company. Ascent Group LLC raised its holdings in Blackstone by 0.9% in the fourth quarter. Ascent Group LLC now owns 8,522 shares of the asset manager’s stock valued at $1,469,000 after buying an additional 74 shares during the period. Global Assets Advisory LLC raised its holdings in Blackstone by 1.9% in the fourth quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager’s stock valued at $697,000 after buying an additional 75 shares during the period. Angeles Wealth Management LLC raised its holdings in Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock valued at $1,652,000 after buying an additional 76 shares during the period. Aptus Capital Advisors LLC raised its holdings in Blackstone by 0.9% in the fourth quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager’s stock valued at $1,460,000 after buying an additional 78 shares during the period. Finally, Nicolet Advisory Services LLC lifted its position in shares of Blackstone by 0.7% during the first quarter. Nicolet Advisory Services LLC now owns 12,075 shares of the asset manager’s stock worth $1,539,000 after purchasing an additional 78 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BX has been the topic of a number of recent analyst reports. UBS Group cut their price objective on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler lifted their target price on Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Barclays boosted their price target on Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Finally, Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $170.12.

Insider Activity

In related news, Director Joseph Baratta sold 100,000 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $167.36, for a total value of $16,736,000.00. Following the completion of the sale, the director owned 808,757 shares of the company’s stock, valued at $135,353,571.52. This represents a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of Blackstone stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the acquisition, the insider directly owned 4,178,771 shares of the company’s stock, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.7%

BX stock opened at $170.14 on Tuesday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market cap of $124.14 billion, a price-to-earnings ratio of 45.74, a PEG ratio of 1.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.75. The firm has a fifty day moving average price of $156.23 and a two-hundred day moving average price of $149.92.

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

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend 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 presently 110.75%.

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.