Bleakley Financial Group LLC Purchases 1,181 Shares of Blackstone Inc. $BX

Bleakley Financial Group LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 4.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,281 shares of the asset manager’s stock after buying an additional 1,181 shares during the period. Bleakley Financial Group LLC’s holdings in Blackstone were worth $3,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. 1248 Management LLC purchased a new stake in shares of Blackstone in the 1st quarter worth $25,000. von Borstel & Associates Inc. purchased a new stake in Blackstone in the first quarter worth about $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone in the first quarter worth about $28,000. Anderson Financial Strategies LLC bought a new position in shares of Blackstone during the 1st quarter valued at approximately $28,000. Finally, Family CFO Inc purchased a new stake in Blackstone in the 2nd quarter worth approximately $28,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company’s stock in a transaction that occurred 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 owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,538,345 shares of company stock valued at $65,046,628 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday. Jefferies Financial Group dropped their price objective on Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. The Goldman Sachs Group lifted 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. BMO Capital Markets assumed coverage on shares of Blackstone in a report on Friday, October 3rd. They set an “outperform” rating and a $190.00 price objective for the company. Finally, Bank of America lowered their target price on shares of 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.79.

Blackstone Trading Down 4.0%

BX stock opened at $155.26 on Friday. The firm has a market cap of $114.44 billion, a PE ratio of 41.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.77. The firm has a fifty day moving average price of $170.54 and a 200 day moving average price of $155.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, November 3rd. Blackstone’s dividend payout ratio is 110.75%.

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.