Nicholas Wealth LLC. Acquires 1,917 Shares of Blackstone Inc. $BX

Nicholas Wealth LLC. lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 31.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,026 shares of the asset manager’s stock after purchasing an additional 1,917 shares during the period. Nicholas Wealth LLC.’s holdings in Blackstone were worth $1,201,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC increased its stake in shares of Blackstone by 519,669.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after buying an additional 70,118,948 shares during the period. Vanguard Group Inc. increased its position in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the period. Geode Capital Management LLC lifted its position in Blackstone by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after purchasing an additional 227,416 shares during the period. Goldman Sachs Group Inc. grew 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 buying an additional 742,829 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Blackstone by 4.4% during the first 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 worth $599,872,000 after buying an additional 182,526 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In related news, Director James Breyer bought 13,900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the purchase, the director owned 68,906 shares in the company, valued at $9,912,817.16. This represents a 25.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the firm’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 transaction of $3,686,390.00. Following the sale, the insider owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 2,565,543 shares of company stock valued at $69,050,139. 1.00% of the stock is owned by insiders.

Blackstone Stock Down 1.4%

Shares of BX stock opened at $136.54 on Wednesday. The company has a market capitalization of $100.82 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The firm has a fifty day moving average of $161.70 and a 200-day moving average of $157.98. 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 released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion during the quarter. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. This represents a $5.16 annualized dividend and a yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BX. JMP Securities reiterated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Piper Sandler decreased their target price on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Morgan Stanley increased their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Citigroup lowered their target price on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

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.