RWA Wealth Partners LLC Has $1.53 Million Position in Blackstone Inc. $BX

RWA Wealth Partners LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,231 shares of the asset manager’s stock after selling 938 shares during the period. RWA Wealth Partners LLC’s holdings in Blackstone were worth $1,530,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BX. Kingstone Capital Partners Texas LLC lifted its position in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after acquiring an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Blackstone by 1.6% in the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after purchasing an additional 1,102,949 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Blackstone by 4.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock valued at $599,872,000 after buying an additional 182,526 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Blackstone by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock worth $581,886,000 after buying an additional 117,724 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the transaction, the insider directly owned 453,836 shares of the company’s stock, valued at $77,814,720.56. The trade was a 4.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the sale, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have acquired 2,565,141 shares of company stock worth $68,991,351 and have sold 16,875,234 shares worth $136,847,628. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of research reports. Barclays dropped their target price on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. Citigroup dropped their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Jefferies Financial Group decreased their target price on Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Finally, Evercore ISI decreased their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.74.

Blackstone Stock Up 1.8%

Shares of BX opened at $146.00 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 $107.61 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a 50-day moving average price of $165.79 and a two-hundred day moving average price of $157.61. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be paid a $1.29 dividend. The ex-dividend date is Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.5%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is presently 147.43%.

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.