Slagle Financial LLC Buys Shares of 20,759 Blackstone Inc. $BX

Slagle Financial LLC purchased a new stake in Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,759 shares of the asset manager’s stock, valued at approximately $3,105,000. Blackstone comprises approximately 1.3% of Slagle Financial LLC’s portfolio, making the stock its 25th largest holding.

Several other large investors have also recently bought and sold shares of BX. Perigon Wealth Management LLC lifted its position in shares of Blackstone by 3.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock worth $9,346,000 after purchasing an additional 1,949 shares during the period. Redmond Asset Management LLC raised its stake in Blackstone by 21.2% during the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after buying an additional 3,281 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in Blackstone during the second quarter valued at $273,000. Bourgeon Capital Management LLC acquired a new stake in Blackstone during the second quarter worth approximately $423,000. Finally, Sandy Cove Advisors LLC grew its position in shares of Blackstone by 22.1% during the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after buying an additional 2,182 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price objective on shares of Blackstone from $199.00 to $187.00 in a research report on Monday, November 10th. HSBC reduced their price objective on Blackstone from $179.00 to $178.00 in a research note on Monday, October 27th. Barclays lowered their target price on Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. TD Cowen decreased their target price on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a research report on Friday, October 24th. 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, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Price Performance

Shares of NYSE:BX opened at $141.46 on Monday. The company has a market capitalization of $104.46 billion, a P/E ratio of 40.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company’s 50-day moving average is $163.12 and its 200 day moving average is $157.95.

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

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a dividend of $1.29 per share. 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 3.6%. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Insiders Place Their Bets

In related news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the transaction, the insider directly owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ruth Porat acquired 324 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the acquisition, the director directly owned 39,077 shares in the company, valued at $5,741,192.84. This represents a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,565,543 shares of company stock worth $69,050,139 in the last three months. Insiders own 1.00% of the company’s stock.

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.