Blackstone Inc. $BX Shares Bought by TruWealth Advisors LLC

TruWealth Advisors LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,535 shares of the asset manager’s stock after acquiring an additional 572 shares during the quarter. TruWealth Advisors LLC’s holdings in Blackstone were worth $1,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Blackstone by 14,608.6% during the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager’s stock worth $184,873,000 after purchasing an additional 1,313,606 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock valued at $9,504,702,000 after acquiring an additional 1,102,949 shares during the last quarter. Nuveen LLC acquired a new stake in Blackstone during the 1st quarter worth approximately $151,524,000. Amundi increased its position in Blackstone by 69.3% during the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock worth $323,000,000 after purchasing an additional 990,947 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Blackstone by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after acquiring an additional 742,829 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of NYSE BX opened at $181.44 on Friday. 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 business’s 50 day moving average is $170.04 and its two-hundred day moving average is $150.53. The company has a market cap of $133.74 billion, a P/E ratio of 48.77, a P/E/G ratio of 1.49 and a beta of 1.77. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly 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 company had revenue of $3.07 billion for 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 company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. On average, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were given a dividend of $1.03 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BX shares. Wells Fargo & Company increased their target price on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. The Goldman Sachs Group reissued a “neutral” rating on shares of Blackstone in a report on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. JMP Securities increased their price target on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research report on Friday, July 25th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Blackstone in a research note on Saturday, July 19th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.38.

Insider Buying and Selling at Blackstone

In other news, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO David Payne sold 9,400 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $169.97, for a total value of $1,597,718.00. Following the completion of the sale, the chief accounting officer directly owned 54,488 shares in the company, valued at approximately $9,261,325.36. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,189,806 shares of company stock valued at $30,046,627 and sold 16,871,634 shares valued at $135,328,376. Company insiders own 1.00% of the company’s stock.

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.