184 Shares in Blackstone Inc. $BX Acquired by Family CFO Inc

Family CFO Inc bought a new position in shares of Blackstone Inc. (NYSE:BX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 184 shares of the asset manager’s stock, valued at approximately $28,000.

Other hedge funds have also recently bought and sold shares of the company. 1248 Management LLC acquired a new stake in Blackstone during the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in Blackstone during the first quarter worth approximately $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone during the first quarter worth approximately $28,000. Livelsberger Financial Advisory purchased a new position in Blackstone during the second quarter worth approximately $30,000. Finally, von Borstel & Associates Inc. purchased a new position in Blackstone during the first quarter worth approximately $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’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 $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by insiders.

Blackstone Price Performance

BX opened at $166.72 on Friday. The company has a fifty day simple moving average of $174.00 and a 200 day simple moving average of $153.61. The firm has a market cap of $122.89 billion, a price-to-earnings ratio of 44.82, a PEG ratio of 1.36 and a beta of 1.77. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business’s revenue was up 32.7% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

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 issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.5%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is 110.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BX. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Barclays increased their price target on shares of Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Piper Sandler increased their price target on shares of Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. The Goldman Sachs Group reissued a “neutral” rating on shares of Blackstone in a research note on Friday, July 25th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and an average price target of $172.71.

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.