JFS Wealth Advisors LLC Has $820,000 Stock Position in Blackstone Inc. $BX

JFS Wealth Advisors LLC boosted its position in Blackstone Inc. (NYSE:BX) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,483 shares of the asset manager’s stock after buying an additional 78 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Blackstone were worth $820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC increased its position in Blackstone by 2.8% in the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the period. Sage Rhino Capital LLC increased its position in Blackstone by 0.8% in 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 period. Jeppson Wealth Management LLC increased its position in Blackstone by 1.0% in 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 period. McAdam LLC lifted its stake in Blackstone by 4.4% in the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock valued at $246,000 after buying an additional 75 shares during the period. Finally, Angeles Wealth Management LLC lifted its stake in Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock valued at $1,652,000 after buying an additional 76 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Vikrant Sawhney sold 50,850 shares of the company’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 owned 737,248 shares in the company, valued at $128,015,742.72. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s 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 disclosure for this sale can be found here. Over the last quarter, 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. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BX. JMP Securities increased their target price on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research note on Friday, July 25th. The Goldman Sachs Group increased their target price on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Jefferies Financial Group cut their target price on Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Piper Sandler cut their price objective on Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Bank of America cut their price objective on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Trading Down 4.2%

NYSE:BX opened at $153.88 on Friday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. 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 has a 50 day moving average price of $172.53 and a two-hundred day moving average price of $154.22. The company has a market cap of $113.42 billion, a P/E ratio of 41.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.77.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm had revenue of $2.49 billion during the quarter. As a group, analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Blackstone’s payout ratio is currently 110.75%.

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.