Fishman Jay A Ltd. MI Has $56.41 Million Position in Blackstone Inc. $BX

Fishman Jay A Ltd. MI decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 377,120 shares of the asset manager’s stock after selling 11,875 shares during the period. Blackstone makes up 5.4% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 6th biggest holding. Fishman Jay A Ltd. MI owned 0.05% of Blackstone worth $56,410,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. 1248 Management LLC acquired a new position in shares of Blackstone in the first quarter worth about $25,000. Family CFO Inc purchased a new stake in shares of Blackstone in the second quarter worth approximately $28,000. Wealth Preservation Advisors LLC bought a new position in Blackstone during the first quarter valued at approximately $28,000. Anderson Financial Strategies LLC bought a new position in Blackstone during the first quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory bought a new position in Blackstone during the second quarter valued at approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.1%

Shares of Blackstone stock opened at $168.40 on Monday. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The stock has a market cap of $124.12 billion, a P/E ratio of 45.27, a P/E/G ratio of 1.37 and a beta of 1.77. 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 $173.81 and its 200-day moving average is $153.83.

Blackstone (NYSE:BX) last posted 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 for the quarter, compared to analysts’ expectations of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.4%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s payout ratio is 110.75%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the purchase, the insider directly owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, 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. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research report on Saturday, September 27th. Wells Fargo & Company lifted their price target on shares of Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Bank of America cut their price objective on Blackstone from $200.00 to $199.00 in a report on Friday. Piper Sandler lifted their price objective on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods lifted their price target on Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.53.

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.