Nisa Investment Advisors LLC Has $19.11 Million Holdings in Blackstone Inc. $BX

Nisa Investment Advisors LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 10.7% during the second quarter, HoldingsChannel.com reports. The firm owned 127,771 shares of the asset manager’s stock after acquiring an additional 12,390 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Blackstone were worth $19,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. 1248 Management LLC bought a new position in Blackstone in the 1st quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new position in shares of Blackstone during the first quarter valued at $28,000. Wealth Preservation Advisors LLC bought a new position in Blackstone during the first quarter worth $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone in the first quarter worth $28,000. Finally, Family CFO Inc acquired a new stake in Blackstone in the second quarter worth $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $154.55 on Monday. The firm has a market cap of $113.92 billion, a P/E ratio of 44.16, a P/E/G ratio of 1.24 and a beta of 1.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. The firm’s fifty day moving average is $170.20 and its 200 day moving average is $156.15. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion during the quarter. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm 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 dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. Blackstone’s dividend payout ratio is 117.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BX. TD Cowen reduced their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley upped their price objective on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $166.00 target price on shares of Blackstone and gave the company a “buy” rating in a research note on Friday. Finally, BMO Capital Markets assumed coverage on shares of Blackstone in a research note on Friday, October 3rd. They set an “outperform” rating and a $190.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.26.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This trade represents a 13.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction dated Wednesday, August 13th. The shares were 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 90 days, insiders bought 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Insiders own 1.00% of the company’s stock.

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.