Blackstone Inc. $BX Holdings Lifted by Burling Wealth Partners LLC

Burling Wealth Partners LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,196 shares of the asset manager’s stock after acquiring an additional 366 shares during the period. Blackstone makes up 2.7% of Burling Wealth Partners LLC’s portfolio, making the stock its 7th biggest position. Burling Wealth Partners LLC’s holdings in Blackstone were worth $14,539,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Intrua Financial LLC lifted its position in Blackstone by 60.8% during the second quarter. Intrua Financial LLC now owns 7,834 shares of the asset manager’s stock valued at $1,172,000 after buying an additional 2,963 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in Blackstone during the 2nd quarter worth $232,000. Good Life Advisors LLC raised its position in Blackstone by 0.7% in the second quarter. Good Life Advisors LLC now owns 11,760 shares of the asset manager’s stock valued at $1,759,000 after purchasing an additional 83 shares during the period. D Orazio & Associates Inc. boosted its position in shares of Blackstone by 9.9% in the second quarter. D Orazio & Associates Inc. now owns 1,686 shares of the asset manager’s stock worth $252,000 after buying an additional 152 shares during the period. Finally, ABN Amro Investment Solutions purchased a new stake in shares of Blackstone during the 2nd quarter valued at about $6,178,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup lowered their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. TD Cowen dropped their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Evercore ISI decreased their price objective on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. cut their price target on Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.74.

Blackstone Stock Down 3.4%

Shares of Blackstone stock opened at $139.44 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $163.69 and a 200 day moving average price of $157.54. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a market cap of $102.97 billion, a P/E ratio of 39.84, a P/E/G ratio of 1.18 and a beta of 1.76.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is 147.43%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director James Breyer acquired 13,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the purchase, the director directly owned 68,906 shares in the company, valued at $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 2,565,543 shares of company stock worth $69,050,139. 1.00% of the stock is owned by company insiders.

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.