Oak Hill Wealth Advisors LLC Buys 310 Shares of Blackstone Inc. $BX

Oak Hill Wealth Advisors LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,422 shares of the asset manager’s stock after acquiring an additional 310 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Blackstone were worth $691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. Mattern Wealth Management LLC increased its holdings in Blackstone by 2.8% in the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after buying an additional 60 shares during the last quarter. Sage Rhino Capital LLC grew its holdings in shares of Blackstone by 0.8% during the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after purchasing an additional 63 shares during the last quarter. Jeppson Wealth Management LLC grew its holdings in shares of Blackstone by 1.0% during the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after purchasing an additional 66 shares during the last quarter. McAdam LLC grew its holdings in shares of Blackstone by 4.4% during the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after purchasing an additional 75 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of Blackstone by 0.6% during the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock worth $1,652,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors 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 dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. 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 the company’s stock in a transaction dated Friday, July 18th. The stock was acquired at an average price of $25.22 per share, for a total transaction of $29,999,997.04. Following the completion of the purchase, the insider directly owned 4,178,771 shares of the company’s stock, valued at $105,388,604.62. This trade represents a 39.79% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, 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. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Trading Up 1.1%

Blackstone stock opened at $168.40 on Friday. The stock has a market capitalization of $124.12 billion, a PE ratio of 45.27, a price-to-earnings-growth ratio of 1.35 and a beta of 1.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $173.81 and a 200-day simple moving average of $153.77.

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

Blackstone Increases Dividend

The business also recently announced 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. This represents a $4.12 annualized dividend and a yield of 2.4%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio is 110.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BX shares. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. BMO Capital Markets initiated coverage on shares of Blackstone in a research report on Friday. They issued an “outperform” rating and a $190.00 price objective for the company. The Goldman Sachs Group lifted their price target on shares of Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup reiterated a “market perform” rating on shares of Blackstone in a research report on Saturday, July 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research report on Saturday, September 27th. 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 stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Moderate Buy” and an average target price of $176.00.

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.