1,504 Shares in Blackstone Inc. $BX Acquired by Diversified Portfolios Inc.

Diversified Portfolios Inc. acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,504 shares of the asset manager’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BX. Perigon Wealth Management LLC raised 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 valued at $9,346,000 after buying an additional 1,949 shares in the last quarter. Redmond Asset Management LLC boosted its stake in shares of Blackstone by 21.2% in the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after purchasing an additional 3,281 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in Blackstone during the 2nd quarter worth approximately $273,000. Bourgeon Capital Management LLC acquired a new stake in Blackstone in the second quarter valued at approximately $423,000. Finally, Sandy Cove Advisors LLC increased its holdings in shares of Blackstone by 22.1% during the second 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 in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director James Breyer purchased 13,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the transaction, the director 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat acquired 324 shares of the stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $146.92 per share, with a total value of $47,602.08. Following the completion of the purchase, the director owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. The trade was a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,565,543 shares of company stock worth $69,050,139 over the last ninety days. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $136.54 on Wednesday. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The stock has a market capitalization of $100.82 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The company’s 50-day moving average is $161.70 and its 200-day moving average is $157.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74.

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

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio is 147.43%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. HSBC cut their price target on shares of Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Morgan Stanley raised their target price on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Jefferies Financial Group decreased their target price on shares of Blackstone from $199.00 to $187.00 in a research report on Monday, November 10th. Finally, Bank of America lowered their price objective on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $179.00.

Blackstone Company 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.