Nisa Investment Advisors LLC Buys 15,022 Shares of Blackstone Inc. $BX

Nisa Investment Advisors LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 142,793 shares of the asset manager’s stock after buying an additional 15,022 shares during the period. Nisa Investment Advisors LLC’s holdings in Blackstone were worth $24,396,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in BX. Perigon Wealth Management LLC grew its holdings in shares of Blackstone by 3.2% during 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 in the last quarter. Vanguard Group Inc. grew its stake in Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after buying an additional 1,494,796 shares in the last quarter. Redmond Asset Management LLC increased its holdings in 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 buying an additional 3,281 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Blackstone during the 2nd quarter worth approximately $273,000. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $423,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Piper Sandler reduced their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. TD Cowen lowered their target price on Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, October 24th. JMP Securities restated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research note on Friday, October 24th. Finally, UBS Group reissued a “neutral” rating on shares of Blackstone in a research note on Wednesday, December 24th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.89.

Blackstone Stock Performance

Blackstone stock opened at $157.76 on Friday. The business has a 50 day moving average of $149.54 and a 200-day moving average of $160.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $190.09. The company has a market capitalization of $116.50 billion, a P/E ratio of 45.07, a P/E/G ratio of 1.09 and a beta of 1.75.

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. The firm had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. On average, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.3%. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Buying and Selling

In related news, Director James Breyer acquired 13,900 shares of the stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the transaction, the director directly owned 68,906 shares of the company’s stock, valued at $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ruth Porat bought 324 shares of Blackstone stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the acquisition, the director directly owned 39,077 shares of the company’s stock, valued at $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. In the last ninety days, insiders purchased 797,148 shares of company stock worth $24,050,153. Corporate insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.