Investors Asset Management of Georgia Inc. GA ADV Has $1.75 Million Stock Holdings in Blackstone Inc. $BX

Investors Asset Management of Georgia Inc. GA ADV lifted its stake in Blackstone Inc. (NYSE:BX) by 7.1% during the second quarter, Holdings Channel.com reports. The fund owned 11,696 shares of the asset manager’s stock after buying an additional 773 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Blackstone were worth $1,749,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its stake in Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after acquiring an additional 6,878 shares during the last quarter. Kera Capital Partners Inc. bought a new position in Blackstone during the second quarter worth about $273,000. Sandy Cove Advisors LLC increased its position in Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after buying an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Blackstone in the second quarter valued at approximately $423,000. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Blackstone by 14.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after acquiring an additional 1,863 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $168.40 on Monday. The business has a 50-day simple moving average of $173.81 and a two-hundred day simple moving average of $153.83. 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 PE ratio of 45.27, a PEG 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.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) 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 firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Analysts Set New Price Targets

Several research firms have commented on BX. BNP Paribas Exane upped their price objective on shares of Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Bank of America decreased their price target on shares of Blackstone from $200.00 to $199.00 in a research note on Friday. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Wells Fargo & Company lifted their price objective on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.53.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by company insiders.

Blackstone Company 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.